CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
MASTER ASSET PURCHASE AGREEMENT
among:
Senseonics Holdings, Inc.,
a Delaware corporation
Senseonics, Incorporated,
a Delaware corporation
and
Ascensia Diabetes Care Holdings AG,
a company organized under the laws of Switzerland
____________________________
Dated as of December 31, 2025
____________________________
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Exhibits
Exhibit A-Certain Definitions
Exhibit B-Form of Bill of Sale and Assumption Agreement
Exhibit C-Form of Release
Exhibit D-Reference Balance Sheet
Exhibit E-Amended and Restated Existing Agreement
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
MASTER ASSET PURCHASE AGREEMENT
This Master Asset Purchase Agreement (this “Agreement”) is entered into as of December 31, 2025 (“Agreement Date”), by and among Senseonics, Incorporated, a Delaware corporation with its principal office and place of business at 20451 Seneca Meadows Parkway, Germantown, Maryland (the “Purchaser”), Senseonics Holdings, Inc., a Delaware corporation with its principal office and place of business at 20451 Seneca Meadows Parkway Germantown, Maryland, 20876 (“Purchaser Parent” and together with Purchaser, collectively, the “Purchaser Parties”) and Ascensia Diabetes Care Holdings AG, a company organized under the laws of Switzerland, with its principal office and place of business at Peter Merian-Strasse 90 4052 Basel, Switzerland (the “Seller”). Certain capitalized terms used in this Agreement are defined in Exhibit A. The Purchaser Parties and Seller are referred to in this Agreement collectively as the “Parties,” and individually as a “Party.”
Whereas, the Purchaser and Seller are currently bound by that certain Collaboration and Commercialization Agreement, dated August 9, 2020, as amended (the “Existing Agreement”);
Whereas, the Seller owns, directly or indirectly through one or more Seller Affiliates, the Purchased Assets;
Whereas, the Parties desire to provide for an orderly wind-up and transition of activities under the Existing Agreement and in connection therewith to provide for the amendment and restatement, and ultimate termination, of the Existing Agreement, in connection therewith, the entry into this Agreement to effect the sale and transfer of the Purchased Assets, the assumption of the Assumed Liabilities, and the transition of certain operations of Seller related to the CGM Activities subject to the conditions and other provisions set forth in this Agreement and in the Transactional Agreements;
Whereas, the Purchaser Group wishes to purchase the Purchased Assets from the Seller Group, and the Seller Group desires to sell and transfer such Purchased Assets to the Purchaser Group, subject to the conditions and other provisions set forth in this Agreement and in the Transactional Agreements, including the Local Purchase Agreements;
Whereas, concurrently with the execution of this Agreement, Purchaser and/or certain Purchaser Affiliates on one hand and Seller and/or certain Seller Affiliates on the other hand, are entering into Local Purchase Agreement to effect the purchase, sale and transfer of the Specified European Assets, subject to the conditions and other provisions set forth in this Agreement, the Local Purchase Agreements and other Transactional Agreements;
Whereas, concurrently with the execution of this Agreement, Purchaser and Seller shall execute and deliver the Amended and Restated Existing Agreement;
Whereas, this Agreement and the Transactional Agreements have been approved by the respective boards of directors, or applicable equivalent governing body, of each of Seller and Purchaser; and
Whereas, the transactions contemplated by this Agreement may occur in separate closings: (i) an Initial Closing, in which the Seller Group will transfer to Purchaser, or a Purchaser Affiliate, the Specified
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Initial Assets and Purchaser, or a Purchaser Affiliate, will assume certain liabilities of Seller and the Seller Affiliates, and (ii) additional subsequent Closings governed by this Agreement and the Local Purchase Agreements, in which the Seller Group will transfer to Purchaser, or a Purchaser Affiliate, the Specified European Assets and Purchaser, or a Purchaser Affiliate, will assume certain additional liabilities of the Seller Group.
Now, Therefore, in consideration of the premises and mutual covenants, agreements and provisions herein contained, the Parties agree as follows:
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
pursuant to this Agreement shall not be treated as giving rise to taxable income of Purchaser or any of its Affiliates under the principles of James M. Pierce Corp., 326 F.2d 67 (8th Cir. 1964).
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Seller represents and warrants to and for the benefit of Purchaser Parties as follows, (i) solely with respect to the Specified Initial Assets and U.S. CGM Activities and as qualified by the Initial Disclosure Schedule, as of the Agreement Date and as of the Initial Closing Date, and (ii) in respect of the Specified European Assets and European CGM Activities and as qualified by the European Disclosure Schedule, as of the Italy Closing, the Germany Closing, the Spain Closing, and the Sweden Closing (in each case, as applicable) and as of such Applicable Closing Date:
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
terms and conditions of the Quality Agreement (as defined in the Existing Agreement) (the “Quality Agreement”).
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Except as set forth in Part 2.12 of the Disclosure Schedule, neither Seller nor any Seller Affiliate party to any Local Purchase Agreement is required to make any filing with or give any notice to, or to obtain any Consent from, any Person in connection with the transfer of any Transferred Contract to Purchaser, the execution and delivery of any of the Transactional Agreements or the consummation or performance of any of the Transactions.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
material Tax Return with respect to the Purchased Assets or the CGM Activities, (ii) the assessment or collection of any Tax by any relevant Governmental Body with respect to the Purchased Assets or the CGM Activities or (iii) the payment of any Tax by Seller or any Seller Affiliate with respect to the Purchased Assets or the CGM Activities. None of the Purchased Assets constitute (i) a United States real property interest as such term is defined in Treas. Reg. Section 1.897-1(c), (ii) property required to be treated as being owned by another Person pursuant to the provisions of Section 168(f)(8) of the Internal Revenue Code of 1954, as amended and in effect immediately prior to the enactment of the Tax Reform Act of 1986, (iii) “tax-exempt use property” within the meaning of Section 168(h)(1) of the Code, (iv) “tax-exempt bond financed property” within the meaning of Section 168(g) of the Code, (v) property that is subject to Section 168(g)(1)(A) of the Code, (vi) property that is subject to a “section 467 rental agreement” as defined in Section 467 of the Code or (vii) an interest in an entity or arrangement classified as a trust, partnership, corporation, limited liability company, or other “business entity” for U.S. federal income Tax purposes. There are no Encumbrances for Taxes on any of the Purchased Assets, other than Encumbrances for Taxes not yet due and payable. No closing agreement, private letter ruling, technical advice memoranda, advance pricing agreement, consent to an extension of time to make an election or consent to a change a method of accounting, has been requested from, entered into with or issued by any Governmental Body with respect to the Purchased Assets or the CGM Activities.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CONDITION OR PROSPECTS THAT MAY RESULT FROM THE OWNERSHIP, USE OR SALE OF THE PURCHASED ASSETS, (C) ANY OTHER INFORMATION OR DOCUMENTS MADE AVAILABLE TO PURCHASER OR ITS REPRESENTATIVES, OR (D) THE CONDITION OF THE PURCHASED ASSETS, INCLUDING COMPLIANCE WITH ANY LAWS. SELLER EXPRESSLY DISCLAIMS, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL IMPLIED WARRANTIES ARISING BY OPERATION OF LAW, COURSE OF DEALING, USAGE OF TRADE, OR OTHERWISE, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, TITLE (OTHER THAN AS EXPRESSLY PROVIDED HEREIN), QUIET ENJOYMENT, QUIET POSSESSION, OR CONDITION, QUALITY, OR SUITABILITY OF THE INVENTORY.
The Purchaser Parties, jointly and severally, represent and warrant, to and for the benefit of Seller, as follows:
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
NOT RELYING ON ANY REPRESENTATION OR WARRANTY EXCEPT FOR THOSE EXPRESSLY SET FORTH IN SECTION 2 OF THIS AGREEMENT (II) THE PURCHASER PARTIES HEREBY EXPRESSLY DISCLAIM ANY SUCH OTHER REPRESENTATIONS AND WARRANTIES.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
faith, in connection with any filing, notice or Consent that such Party is required or elects to make, give or obtain.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
or the receipt of a waiver hereunder, such Person is compelled to disclose any Confidential Information or else stand liable for contempt, such Person may disclose only that portion of such Confidential Information to which it is advised by its counsel to disclose and shall use commercially reasonable efforts, at its sole expense, to cause the recipient thereof to keep such information confidential. The Parties acknowledge that this Section 4.7 constitutes an independent covenant and shall not be affected by performance or nonperformance of any other provision of this Agreement or any other document contemplated by this Agreement.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
compensate and reimburse each of the Purchaser Indemnitees for, any Damages that are directly or indirectly suffered or incurred by any of the Purchaser Indemnitees or to which any of the Purchaser Indemnitees may otherwise become subject during any applicable period of time during which claims for indemnification may be made hereunder (regardless of whether or not such Damages relate to any Third-Party Indemnifiable Claim) and that arise directly or indirectly from or as a direct or indirect result of, or are directly or indirectly connected with:
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
terms are to be performed and complied with after the Applicable Closing Date, following the Applicable Closing Date (including under any Local Purchase Agreement) the indemnification provisions in this Section 7 shall be the sole and exclusive legal remedy of such party for any and all claims against the other Parties and their respective Affiliates for Damages under this Agreement, the other Transactional Agreements and the Transition Services Agreement; provided, however, that the foregoing sentence shall not be (x) deemed a waiver by any party of any right or remedy arising by reason of any claim based on any Fraud or (y) affect any rights or remedies under the Amended and Restated Existing Agreement.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Liability to be assumed by Purchaser or its designated Affiliate, or Seller or its designated Affiliate, as the case may be, in each case pursuant to this Agreement or any applicable Local Purchase Agreement.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Excluded Inventory as set forth on Schedule 1.2(c) and further excluding any Inventory that following the initial delivery of such Inventory by Purchaser (or an Affiliate thereof) to Seller has been damaged or otherwise handled outside of the requirements of the Quality Agreement, and without any further right of rejection, return, offset, or reduction based on marketability, usability, saleability, demand variability, obsolescence or any other reason.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
For purposes of this Section 8.11, unless clearly indicated to the contrary, all references to “Seller” shall be deemed to also refer to any Seller Affiliate that transfers any Purchased Asset or any Assumed Liability to Purchaser or any Purchaser Affiliate in connection with the Transactions.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
if to Seller:
Ascensia Diabetes Care Holdings AG
Peter Merian-Strasse 90, 4052
Basel, Switzerland
Email: [***]
Attention: [***]
with a copy to:
Dentons Cohen & Grigsby P.C.
625 Liberty Ave., 5th Floor
Pittsburgh, PA 15222-3152
Email: [***]
Attention: [***]
if to Purchaser:
Senseonics, Incorporated
20451 Seneca Meadows Parkway
Germantown, MD 20876-7005
Email: [***]
Attention: [***]
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
[Remainder of Page Intentionally Left Blank]
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
The Parties have caused this Agreement to be executed and delivered as of the date first written above.
PURCHASER PARTIES:
Senseonics Holdings, Inc.
By: /s/ Timothy Goodnow
Name: Timothy T. Goodnow
Title: President & Chief Executive Officer
Senseonics, Incorporated
By: /s/ Timothy Goodnow
Name: Timothy T. Goodnow
Title: President & Chief Executive Officer
SELLER:
Ascensia Diabetes Holdings AG
(two signatories required)
By: /s/ Koichiro Sato
Name: Kochiro Sato
Title: Chief Executive Officer
Ascensia Diabetes Holdings AG
By: /s/ Marieke Jansen
Name: Marieke Jansen
Title: General Counsel
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
For purposes of the Agreement (including this Exhibit A):
“Acquisition Transaction” shall mean any transaction involving: (a) the sale or other disposition of all or any portion of the business or assets of Seller (other than in the Ordinary Course of Business); (b) the issuance, sale or other disposition of (i) any securities of Seller, (ii) any option, call, warrant or right (whether or not immediately exercisable) to acquire any equity interests or other securities of Seller, or (iii) any security, instrument or obligation that is or may become convertible into or exchangeable for any equity interests or other securities of Seller; or (c) any merger, consolidation, business combination, membership interest exchange, reorganization or similar transaction involving Seller which would include all or any portion of the CGM Activities or the Purchased Assets.
Except as otherwise specifically provided in the Agreement, “Affiliate” shall mean, with respect to any specified Person, any other Person which, directly or indirectly, controls, is under common control with, or is controlled by, such specified Person, through one or more intermediaries or otherwise. For purposes of this definition, the term “control” shall mean the possession, direct or indirect, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
“Agreement” shall mean this Asset Purchase Agreement to which this Exhibit A is attached (including the Disclosure Schedule), as it may be amended from time to time.
“Amended and Restated Existing Agreement” shall mean the Amended and Restated Existing Agreement in the form attached hereto as Exhibit E.
“Applicable Closing” shall mean either the (i) Initial Closing or (ii) if and as applicable, the Italy Closing, the Germany Closing, the Sweden Closing or the Spain Closing, as applicable, in accordance with Section 1.10 (European CGM Activities).
“Applicable Closing Date” shall mean either the (i) Initial Closing Date or (ii) the Italy Closing Date, the Germany Closing Date, the Sweden Closing Date or the Spain Closing Date, as applicable, in accordance with Section 1.10 (European CGM Activities).
“Assumed European Liabilities” shall mean, subject to the limitations set forth in Section 1.3(b), the Assumed Liabilities related to the Specified European Assets.
“Assumed Initial Liabilities” shall mean, subject to the limitations set for in Section 1.3(b), the Assumed Liabilities relating to the Specified Initial Assets.
“Best Efforts” [***].
“Books and Records” shall mean all books, ledgers, files, reports, plans, records, manuals and other materials, including books of account, Tax Returns, customer lists, billing records, distribution lists, manuals, safety data, records, files, invoices, correspondence and memoranda, scientific records and files
1
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
(including invention disclosures), customer and supplier lists, data, specifications, operating history information and inventory records (in any form or medium) of, or maintained for, or primarily relating to, the Purchased Assets and/or the CGM Activities.
“Business Day” shall mean a day other than Saturday, Sunday or any other day on which commercial banks located in New York, New York, Bern, Switzerland, or Tokyo, Japan are authorized or obligated by applicable Law to close.
“CGM Activities” shall mean Seller’s business of marketing, selling and distributing the Products in the Territory.
“CGM Data” means all data and information (in any form or medium) collected, generated, received, processed, stored or otherwise used in connection with the operation of the CGM Activities, including [***].
“CGM Employees” shall mean each employee, independent contractor, advisor director, and officer of Seller and the Seller Affiliates that provide services primarily related to the CGM Activities.
“CGM IP” shall mean Intellectual Property that is (a) any Intellectual Property embodied in or necessary to exploit any Transferred Technology or (b) that otherwise is specific to any Purchased Assets or the CGM Activities as currently being conducted, in each case, that is owned by or licensed to Seller or any Seller Affiliate. For the avoidance of doubt, CGM IP does not include: (i) any Purchaser Intellectual Property; (ii) Ascensia Contour or any other Intellectual Property that is not related to the Products, or (iii) any Intellectual Property developed by or on behalf of Seller or Seller Affiliates for its or their respective businesses outside of the CGM Activities.
“CGM IP Contract” shall mean any Seller Contract pursuant to which Seller or any Seller Affiliate grants any assignment or license of any CGM IP or Transferred Technology.
“Closing” shall mean the Closing or Applicable Closing, as applicable.
“Closing Date” shall mean the Closing Date or Applicable Closing Date, as applicable.
“Code” shall mean the Internal Revenue Code of 1986, as amended, and any reference to any particular Code section shall be interpreted to include any revision of or successor to that section regardless of how numbered or classified.
“Confidential Information” shall mean all information concerning or related to the CGM Activities, the Purchased Assets, the operations, financial condition or prospects of the Seller Group, regardless of the form in which such information appears and whether or not such information has been reduced to a tangible form, and specifically includes (a) all information regarding the officers, directors, managers, employees, equity holders, customers, suppliers, distributors, sales representatives and licensees of the Seller Group, in each case whether past, present or prospective, (b) all inventions, discoveries, trade secrets, specifications, processes, techniques, methods, formulae, ideas and know-how of the Seller Group, (c) all financial statements, audit reports, budgets and business plans or forecasts of the Seller Group and (d) the Transactional Agreements and the Transition Services Agreement, the terms thereof and the transactions contemplated thereby; provided, that Confidential Information does not include (i) information
2
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
which is or becomes generally known to the public other than as a result of a breach of this Agreement or any other confidentiality obligation, and (ii) information which is hereafter lawfully obtained by Purchaser from a source other than the Seller Group (or any of their respective officers, directors, managers, employees, equity holders or agents) asso long as, in the case of information obtained from a third party, such third party was or is not, directly or indirectly, to the knowledge, after reasonable inquiry, of Purchaser, subject to an obligation of confidentiality owed to the Seller Group, or any Affiliate or Related Party of the Seller Group at the time such Confidential Information was or is disclosed to Purchaser.
“Consent” shall mean any approval, consent, ratification, permission, waiver or authorization (including any Governmental Authorization).
“Contract” shall mean any legally binding written or oral agreement, contract, understanding, arrangement, or other instrument or undertaking of any nature.
“Copyrights” shall mean copyrights and registrations and applications therefor, and mask work rights.
“CRM System” means the customer relationship management platform(s), modules, configurations, integrations, workflows, custom fields, dashboards, layouts, automations, reports, APIs and related documentation used in the CGM Activities, including any on premises or cloud instances and sandbox or test environments, but excluding any Excluded Assets.
“Damages” shall include any loss, damage, injury, Liability, claim, demand, settlement, judgment, award, fine, penalty, Tax, fee (including any reasonable legal fee, expert fee, accounting fee or advisory fee), charge, cost (including any cost of investigation) or out of pocket expense.
“Disclosure Schedule” shall mean (a) as of the Initial Closing, the schedule (dated as of the date of the Agreement) delivered to the Purchaser Parties by Seller, a copy of which is attached to the Agreement and incorporated in the Agreement by reference (the “Initial Disclosure Schedule”) and (b) solely as related to the European CGM Activities and Specified European Assets, the schedule delivered to Purchaser Parties by Seller and as mutually agreed in form and substance between Purchaser Parties and Seller (the “European Disclosure Schedule”).
“Encumbrance” shall mean any lien, pledge, hypothecation, charge, mortgage, security interest, option, claim, encroachment, conditional sales contract, encumbrance, charges, easement or other encumbrance.
“Entity” shall mean a corporation, a partnership, an association, a limited liability company, a joint stock company, a joint venture, a proprietorship, a trust, an unincorporated organization, an estate or other similar business entity or organization.
“Environmental Laws” shall mean all applicable international, federal, state, or local laws, statutes, ordinances, regulations, policies, guidance, rules, judgments, orders, court decisions or rule of common law, permits, restrictions and licenses, which (a) regulate or relate to the protection or cleanup of the environment; the use, treatment, storage, transportation, handling, disposal or release of Hazardous Materials, the preservation or protection of waterways, groundwater, drinking water, air, wildlife, plants or other natural resources; or the health and safety of persons or property, including protection of the health
3
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
and safety of employees or (b) impose Liability or responsibility with respect to any of the foregoing, including the Comprehensive Environmental Response, Compensation and Liability Act (42 U.S.C. § 9601 et seq.), the Occupational Safety and Health Act (29 U.S.C. § 651 et seq.), the Resource Conservation and Recovery Act (42 U.S.C. § 6901 et seq.) and any other Law of similar effect.
“Equipment” shall mean the fixed and other tangible personal property, whether owned or leased by the Seller Group relating to the CGM Activities and/or that are used by the Seller Group in connection with the CGM Activities or the Purchased Assets.
“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended.
“ERISA Affiliate” shall mean any entity (whether or not incorporated) which would be treated as a single employer with Seller or any of its subsidiaries under Sections 414(b), (c), (m) or (o) of the Code and the Treasury Regulations promulgated thereunder.
“European Books and Records” shall mean (i) any Books and Records maintained for, or relating generally to, the Specified European Assets and/or the European CGM Activities irrespective of whether such Books and Records are comingled with Seller’s non-European CGM Activities and (ii) any employee or personnel files or data, in each case, to the extent exclusively relating to any European Transferred Employee.
“European CGM Activities” shall mean the CGM Activities of the Seller Group in the European Territory.
“European CGM Employees” shall mean the CGM Employees in the European Territory.
“European CGM IP” shall mean all CGM IP related to the European CGM Activities and set forth on Schedule 1.1(b)(ii).
“European Equipment” shall mean Equipment used in the European CGM Activities.
“European Inventory” shall mean all Inventory in the European Territory.
“European Other Materials” shall mean Other Materials which relate to or are used in connection with the European CGM Activities and Specified European Assets.
“European Regulatory Materials” shall mean Regulatory Materials which primarily relating to, primarily held for use with, or primarily used in connection with the European CGM Activities and the Specified European Assets.
“European Territory” shall mean Italy, Germany, Spain and Sweden.
“Excluded Taxes” shall mean (a) Taxes of Seller or any Seller Affiliate, or related to the Excluded Assets or Excluded Liabilities, for any taxable period (for the avoidance of doubt, including (i) Taxes of Seller or any Seller Affiliate that becomes a Liability of Purchaser under any common law doctrine of de facto merger or transferee or successor liability, by operation of Contract or otherwise by operation of Law and (ii) any Taxes of Seller or any Seller Affiliate relating to a Pre-Closing Tax Period the payment of
4
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
which has been deferred until a Post-Closing Tax Period), (b) Taxes imposed on the Purchased Assets or with respect to the CGM Activities or any Transferred Employees for any Pre-Closing Tax Period, (c) Taxes arising out of any breach of any covenant made by Seller or any Seller Affiliate in this Agreement or any other Transactional Agreement, (d) any Transfer Taxes except as otherwise provided pursuant to Section 1.8 and the applicable Local Purchase Agreement, and (e) Taxes imposed on Purchaser as a result of any Party’s failure to comply with any bulk sales Law and other similar Laws in any applicable jurisdiction in respect of the Transactions to the extent such failure is attributable to Seller or any Seller Affiliate.
“Fraud” shall mean, with respect to a Party, “Fraud” means intentional, common law fraud under the Laws of the State of Delaware; provided, that under no circumstances shall “Fraud” include any fraud based on recklessness or negligence.
“Germany Assumed Liabilities” shall mean the Assumed European Liabilities to the extent relating to the CGM Activities conducted in Germany, the Germany Purchased Assets or the Germany Transferred Employees.
“Germany CGM Activities” shall mean, collectively, the Germany Purchased Assets, the Germany Assumed Liabilities and the Germany Transferred Employees.
“Germany Inventory” shall mean all Inventory located in Germany.
“Germany Purchase Price” shall mean the portion of the Purchase Price allocated to Germany CGM Activities and the Germany Inventory value (if any).
“Germany Purchased Assets” shall mean the Specified European Assets located in Germany.
“Germany Transferred Employees” shall mean, as of any determination time, each European Transferred Employee employed in Germany.
“Governmental Authorization” shall mean any: (a) permit, license, certificate, franchise, concession, approval, consent, ratification, permission, clearance, confirmation, endorsement, waiver, certification, designation, rating, registration, qualification or authorization issued, granted, given or otherwise made available by or under the authority of any Governmental Body or pursuant to any applicable Law; or (b) right under any Contract with any Governmental Body.
“Governmental Body” shall mean any: (a) nation, principality, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; (c) governmental or quasi governmental authority of any nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council, board, instrumentality, officer, official, representative, organization, unit, body or Entity and any court or other tribunal); (d) multi-national organization or body; or (e) individual, Entity or body exercising, or entitled to exercise, any executive, legislative, judicial, administrative, regulatory, police, military or taxing authority or power of any nature.
“Hazardous Materials” shall mean (a) any “hazardous substance,” “pollutant,” “contaminant,” “hazardous waste,” “regulated substance,” “hazardous chemical” or “toxic chemical” as designated, listed
5
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
or defined (whether expressly or by reference) in any Environmental Law; (b) any other pollutant, chemical, substance, toxic, infectious, carcinogenic, reactive, corrosive, ignitable or flammable chemical, or chemical compound, or hazardous substance, material or waste, whether solid, liquid or gas, that is subject to regulation, control or remediation under any Environmental Laws, including any quantity of asbestos in any form, urea, formaldehyde, polychlorinated biphenyls (PCBs), radon gas, petroleum, waste oil, crude oil, or any fraction thereof, all forms of natural gas, petroleum products or by-products or derivatives, and (c) any compound, mixture, solution, product or other substance or material that contains any hazardous substance or material referred to in clause (a) and (b) above.
“IFRS” shall mean International Financial Reporting Standards applied by Seller on a consistent basis in its Financial Statements.
“Intellectual Property” shall mean and include all worldwide intellectual property rights including, without limitation, rights in and to the following: (a) Patents; (b) Marks; (c) Copyrights; (d) all common law and statutory rights in any jurisdiction commonly known as “trade secrets” or that permit the holder of such right to limit the use or disclosure of its know-how and other confidential or proprietary technical, business or other information; and (e) any similar, corresponding or equivalent rights to any of the foregoing.
“Inventory” shall mean all Product inventory relating to or to be used in the CGM Activities, including, without limitation, all finished Products, work in process, in process materials, raw materials, packaging, components and all other materials and supplies and parts to be used in connection with the CGM Activities whether held at any location or facility of Seller or any of the Seller Affiliates or in transit to Seller or any of the Seller Affiliates.
“IRS” shall mean the U.S. Internal Revenue Service.
“Italy Assumed Liabilities” shall mean the Assumed Liabilities to the extent relating to the CGM Activities conducted in Italy, the Italy Purchased Assets or the Italy Transferred Employees.
“Italy CGM Activities” shall mean, collectively, the Italy Purchased Assets, the Italy Assumed Liabilities and the Italy Transferred Employees.
“Italy Inventory” shall mean all Inventory located in Italy.
“Italy Purchase Price” shall mean the portion of the Purchase Price allocated to the Italy CGM Activities and the Italy Inventory value (if any).
“Italy Purchased Assets” shall mean the Specified European Assets located in Italy.
“Italy Transferred Employees” shall mean, as of any determination time, each European Transferred Employee employed in Italy.
“Law” shall mean any federal, state, local, municipal, foreign or other law, statute, legislation, constitution, principle of common law, resolution, ordinance, code, edict, decree, proclamation, treaty, convention, rule, regulation, ruling, directive, pronouncement, requirement, specification, determination,
6
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
decision, opinion or interpretation, in each case, issued, enacted, adopted, passed, approved, promulgated, made, implemented or otherwise put into effect by or under the authority of any Governmental Body.
“Liability” shall mean any debt, obligation, duty or liability of any nature (including any unknown, undisclosed, unmatured, unaccrued, unasserted, contingent, indirect, conditional, implied, vicarious, derivative, joint, several or secondary liability), regardless of whether such debt, obligation, duty or liability would be required to be disclosed on a balance sheet prepared in accordance with generally accepted accounting principles and regardless of whether such debt, obligation, duty or liability is immediately due and payable.
“Local Purchase Agreements” shall mean the agreements to be entered into by Seller and/or the other Seller Affiliates and Purchaser (or any of its Affiliates) for purposes of implementing the sale, transfer, conveyance, assignment, delivery and assumption, as applicable, of the Purchased Assets and Assumed Liabilities to Purchaser, by such Seller and/or other Seller Affiliates, as the case may be, in Italy, Germany, Spain and Sweden, (a) in the case of Italy, as shared by the parties as of the date hereof and with such modifications, amendments or supplements, in each case, solely (i) as may be necessary to (A) comply with applicable Laws in Italy, or (B) properly account for the Italy Purchased Assets and Italy Assumed Liabilities that are the subject of the agreement, or (ii) as may be otherwise reasonably agreed to by Purchaser and Seller (such local purchase agreement contemplated by this clause (a), the “Italy Local Purchase Agreement”), (b) in the case of Germany, in the draft form as shared by the Parties as of the date hereof and with such modifications, amendments or supplements, in each case, solely (i) as may be necessary to (A) comply with applicable Law in Germany, or (B) properly account for the Germany Purchased Assets and Germany Assumed Liabilities that are the subject of the agreement, or (ii) as may be otherwise reasonably agreed to by Purchaser and Seller (such local purchase agreement contemplated by this clause (b), the “Germany Local Purchase Agreement”), (c) in the case of Spain, as shared by the Parties as of the date hereof and with such modifications, amendments or supplements, in each case, solely (i) as may be necessary to (A) comply with applicable Law in Spain, or (B) properly account for the Spain Purchased Assets and Spain Assumed Liabilities that are the subject of the agreement, or (ii) as may be otherwise reasonably agreed to by Purchaser and Seller (such local purchase agreement contemplated by this clause (c), the “Spain Local Purchase Agreement”) and (d) in the case of the Sweden, as shared by the Parties as of the date hereof and with such modifications, amendments or supplements, in each case, solely (i) as may be necessary to (A) comply with applicable Laws in Sweden, or (B) properly account for the Sweden Purchased Assets and Sweden Assumed Liabilities that are the subject of the agreement, or (ii) as may be otherwise reasonably agreed to by Purchaser and Seller (such local purchase agreement contemplated by this clause (d), the “Sweden Local Purchase Agreement”).
“Marks” shall mean all rights in trademarks, service marks, trade names, service names, brand names, trade dress rights, logos, Internet domain names and corporate names, including and all applications, registrations and renewals thereof.
“Material Adverse Effect” shall mean an event, development, change, effect or occurrence that, individually or together with any other event(s), development(s), change(s), effect(s) or occurrence(s), has had or would reasonably be expected to have a material adverse effect on (a) the business, assets, liabilities, financial condition or results of operation of the CGM Activities, taken as a whole, or (b) the ability of Seller or Seller Affiliates to perform their respective obligations under this Agreement and the other Transactional Agreements; provided, however, that no event, development, change, effect or occurrence resulting from or arising out of any of the following shall be deemed to constitute, or shall be taken into
7
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
account in determining whether there has been or would reasonably be expected to be, a “Material Adverse Effect”: (i) any action required or expressly contemplated to be taken by this Agreement or taken by any Party or any of its Affiliates with the prior written consent or at the written request of the other Party, (ii) macroeconomic factors, political conditions, exchange rates, interest rates, tariffs or tax rates, general financial market and credit related conditions (including any disruption thereof), suspensions of trading, trade disputes, banking moratoriums, limitations on the extension of credit, any “act of God” (including earthquakes, hurricanes, floods, or other natural disasters or weather-related conditions), war (whether or not declared), terrorism or hostilities, (iii) conditions which generally affect the industry in which the CGM Activities operate in, (iv) the failure, in and of itself, of the CGM Activities to meet or achieve any internal or published projections, forecasts, budgets, plans or targets for any period, or changes in market price or credit ratings or other financial or operating metrics (including revenue, margins, profitability, cash flows or cash burn), it being understood that the facts, events or circumstances underlying such failure or changes may be taken into account in determining whether a Material Adverse Effect has occurred to the extent not otherwise excluded by this definition, (v) any epidemic, pandemic or disease outbreak, or (vi) changes in applicable Law, governmental rule, regulation, directive, pronouncement or guideline, or other applicable accounting principles, except in each case, to the extent that any such event, development, change, effect or occurrence has a disproportionate adverse effect on the CGM Activities, in each case, taken as a whole, relative to the adverse effect such event, development, change, effect or occurrence has on other comparable businesses in the industry or markets in which the CGM Activities are operated.
“Net Book Value” shall mean the unadjusted original cost, which cost shall not be adjusted for exchange rate changes.
“Order” shall mean any: (a) order, judgment, injunction, edict, decree, ruling, pronouncement, determination, decision, opinion, verdict, sentence, subpoena, writ or award issued, made, entered, rendered or otherwise put into effect by or under the authority of any court, administrative agency or other Governmental Body or any arbitrator or arbitration panel; or (b) Contract with any Governmental Body entered into in connection with any Proceeding.
“Ordinary Course of Business” shall mean means an action taken by Seller or Seller Affiliate in the ordinary course of conducting the CGM Activities, consistent with past practices (including with respect to nature, scope, timing, volume, frequency and manner), including actions reasonably taken or omitted in good faith to respond to or address business, market, supply chain, customer, workforce, technology, seasonal, competitive, operational, safety, cybersecurity, or other conditions or exigencies, or to comply with, or respond to changes in, applicable Law, Governmental Authorization, or industry standards.
“Other Materials” shall mean (a) research and development reports and disclosure memoranda in the possession of Seller or any Seller Affiliates relating to the CGM Activities and/or Products, including study reports, clinical data, clinical trial related documents including consent forms, study contracts, site agreements, manuscripts and in process publications and (b) the guides or reports in Seller’s or any Seller Affiliate’s possession as of the applicable Closing Date.
“PASS Accrual Amount” [***]; provided, that the Parties may negotiate in good faith to adjust the PASS Accrual Amount to reflect any adjustment resulting from periods after October 31, 2025.
“PASS Program” shall mean Seller’s Eversense Payment Assistance and Simple Savings Program in the U.S.
8
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
“Patents” shall mean: (a) all issued patents, including any extensions, restorations by any existing or future extension or registration mechanism (including patent term adjustments, patent term extensions, supplemental protection certificates or the equivalent thereof), substitutions, confirmations, re-registrations, re-examinations, reissues, patents and patent claims maintained after post grant examination (including inter partes review, post grant review or opposition proceeding) and patents of addition; (b) all patent applications, including all provisional applications, substitutions, requests for continuation, continuations, continuations-in-part, divisionals and renewals; and (c) all equivalents of the foregoing in any country of the world.
“Permitted Encumbrances” shall mean (a) statutory Encumbrances for current Taxes not yet due and payable or being contested by appropriate proceedings in good faith; (b) Encumbrances incurred or deposits made in the Ordinary Course of Business in connection with workers’ compensation, unemployment insurance and other types of social security and that are not material in amount or effect to the CGM Activities; (c) mechanics, carriers’, workers’, repairers’, materialmen’s, warehousemen’s and similar Encumbrances which have arisen in the Ordinary Course of Business and that are not material in amount or effect on the CGM Activities; (d) restrictions on transfer under applicable securities laws; or (e) any other Encumbrances that do not impair the ownership or use of any of the Purchased Assets or are otherwise de minimis in amount or effect.
“Person” shall mean any individual, Entity or Governmental Body.
“Personal Data” shall mean any information that (i) relates to an identified or identifiable individual, or that is reasonably capable of being used to identify, contact, or precisely locate an individual, or (ii) that otherwise constitutes “personal information”, “sensitive personal information”, “personally identifiable information”, “personal data” or any similar terms under applicable Laws.
“Post-Closing Tax Period” shall mean any taxable period commencing after the Applicable Closing Date and the portion of any Straddle Period (as determined in accordance with Section 8.11 (Tax Matters)) commencing on the day immediately following the Applicable Closing Date.
“Pre-Closing Period” shall mean the period from the date of this Agreement through the earlier of the last Applicable Closing Date or the termination of this Agreement in accordance with its terms.
“Pre-Closing Tax Period” shall mean any taxable period ending on or prior to the Applicable Closing Date and the portion of any Straddle Period (as determined in accordance with Section 8.11 (Tax Matters)) ending on and including the Applicable Closing Date.
“Privacy Laws” shall mean all applicable Laws and all binding regulatory guidance concerning (i) the privacy, secrecy, security, protection, sharing, sale, disposal, international transfer or other Processing of Personal Data, (ii) incident reporting or Security Incident notification requirements; (iii) direct marketing, e-mails, communication by text messages or initiation, transmission, monitoring, recording, or receipt of communications (in any format, including without limitation voice, video, email, phone, text messaging, or otherwise); (iv) artificial intelligence involving the Processing of Personal Data, or (v) consumer protection related to the privacy, security, or protection of Personal Data.
“Privacy Policy” or “Privacy Policies” means each past or present, policy, representation, statement, or notice made by any of the Seller Group, including without limitation, privacy policies
9
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
published on the Seller Group’s online properties, or otherwise made available by the Seller Group to any Person, relating to the Processing of Sensitive Data.
“Proceeding” shall mean any action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding and any informal proceeding), prosecution, contest, hearing, inquiry, inquest, audit, examination or investigation commenced, brought, conducted or heard by or before, or otherwise involving, any Governmental Body or any arbitrator or arbitration panel.
“Process” or “Processing” means, with respect to data, any operation or set of operations such as collection, recording, organization, structuring, storage, adaptation, enhancement, enrichment or alteration, retrieval, consultation, analysis, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.
“Products” shall mean the following Purchaser proprietary products currently marketed under the brand “Eversense”: (a) Eversense® CGM System (90-day product); (b) Eversense® XL CGM System (180-day product outside the US); (c) Eversense XL 2.0; and (d) extended Eversense 365-day product (Rome 1 & Rome 2).
“Purchased Assets” shall mean the Specified Initial Assets and Specified European Assets.
“Purchaser Affiliate” shall mean the Affiliates of the Purchaser Parties listed on Schedule A under the heading “Purchaser Affiliates”.
“Purchaser Group” shall mean the Purchaser Parties and the Purchaser Affiliates.
“Purchaser Indemnitees” shall mean the following Persons: (a) the Purchaser Parties; (b) the Purchaser Affiliates; (c) the respective Representatives of the Persons referred to in clauses (a) and (b) above; and (d) the respective successors and assigns of the Persons referred to in clauses (a), (b) and (c) above.
“Purchaser Intellectual Property” means any Intellectual Property acquired, authored, developed or reduced to practice by Purchaser prior to the Agreement that was made available to Seller pursuant to the Existing Agreement.
“Reference Balance Sheet Net Book Value” [***].
“Reference Date” shall mean January 1, 2021.
“Registered IP” shall mean all CGM IP that is registered or filed with any Governmental Body, including all Patents, registered Copyrights, registered mask works, and registered trademarks within the CGM IP and all applications for any of the foregoing.
“Regulatory Approval” shall mean all licenses, consents, permits, certificates, filings, registrations, notifications, franchises, concessions, authorizations, approvals, ratifications, permission, clearance, confirmation, endorsement, waiver, designation, rating or qualification issued, granted, given or otherwise made available by or under the authority of any Governmental Body or under the applicable Laws of any Governmental Body.
10
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
“Regulatory Materials” shall mean all Regulatory Approvals that are in the possession of or controlled by, or held by or for Seller or any Seller Affiliates and which relate to or are used primarily in connection with the CGM Activities and Purchased Assets, including all regulatory applications, filings, submissions and approvals for sale and marketing of the Products, and all correspondence with Governmental Bodies relating primarily to the CGM Activities, in each case, whether generated, filed or held by or for Seller or any Seller Affiliates.
“Related Party” shall mean (a) each individual who is, or who has at any time been, an officer, manager, employee or director of the Seller Group; (b) each member of the family of each of the individuals referred to in clause (a) above; and (c) any Entity (other than Seller) in which any one of the individuals referred to in clauses (a) and (b) above holds or held (or in which more than one of such individuals collectively hold or held), beneficially or otherwise, a controlling interest or a material voting, proprietary or equity interest.
“Representatives” shall mean, with respect to any Entity, the officers, directors, managers, employees, agents, attorneys, accountants, advisors, clinical investigators and representatives of such Entity, as applicable.
“Security Incident” means (i) any actual or reasonably suspected unauthorized, unlawful, or accidental loss of, damage to, access to, use, alteration, acquisition, encryption, theft, modification, destruction, unavailability, disclosure of, or other Processing of Sensitive Data, or (ii) any damage to, or unauthorized, unlawful, or accidental access to, theft of, or use of, any Seller IT Systems.
“Seller Affiliate” shall mean any Affiliate of Seller that owns or has any other rights to any Purchased Assets (or, in the case of Purchased Asset that is a Contract, is a party to or is otherwise bound by) or employs any of the CGM Employees, including the Affiliates of Seller listed on Schedule A under the heading “Seller Affiliates.”
“Seller Contract” shall mean any Contract relating to the CGM Activities or the Purchased Assets, including any amendment, modification or supplement thereto, (a) to which any member of the Seller Group is a party, (b) by which any member of the Seller Group or any of its respective assets is bound, (c) under which any member of the Seller Group has any obligation related to the CGM Activities or (d) under which any member of the Seller Group has or may acquire any right or interest, relating to the CGM Activities including, without limitation, all CGM IP Contracts and all Contracts pursuant to which Seller or any Seller Affiliate has obtained any assignment, license or other right or interest in, under or to any CGM IP, excluding (i) any Contracts with the Purchaser Group and (ii) Contracts that are not material to the (1) U.S. CGM Activities or (2) European CGM Activities.
“Sensitive Data” means all [***].
“Seller Employee Plan” shall mean any plan, program, policy, practice, contract, agreement or other arrangement providing for terms of employment or engagement, compensation, severance, termination pay, retirement, pension, supplemental retirement, excess benefit, profit sharing, bonus, incentive transaction, retention, deferred compensation, change in control, compensation for post-termination non-compete obligations, vacation, paid time off, performance awards, compensatory equity or equity-related awards, savings, life, health, disability, accident, medical, dental, vision, cafeteria, insurance, flex spending, adoption/dependent/employee assistance, tuition, other health, welfare or fringe benefits or
11
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
other employee benefits or remuneration of any kind, whether written or unwritten, funded or unfunded, including without limitation, each “employee benefit plan” within the meaning of Section 3(3) of ERISA (whether or not subject to ERISA) which is or has been maintained, contributed to, or required to be contributed to, by Seller for the benefit of CGM Employees or with respect to which Seller has or may have any Liability or obligation, whether actual or contingent and direct or indirect (including on account of any ERISA Affiliates).
“Seller Group” shall mean the Seller and the Seller Affiliates.
“Seller Indemnitees” shall mean the following Persons: (a) Seller; (b) the Seller Affiliates; (c) the respective Representatives of the Persons referred to in clauses (a) and (b) above; and (d) the respective successors and assigns of the Persons referred to in clauses (a), (b) and (c) above.
“Seller IT Systems” shall mean all information technology and computer systems relating to the transmission, storage, maintenance, organization, presentation, generation, processing or analysis of software, code, communications, data or information used in or necessary for the conduct of the CGM Activities.
“Seller’s Knowledge” shall mean the actual and, after due inquiry, reasonable knowledge of the Seller’s directors and officers, and officers of those Seller Affiliates party to the Local Purchase Agreements and the country managers of the Seller’s business (CGM Activities and combined business), the Ascensia Care Diabetes leadership team and Serapis workstream leads that are employees of Seller.
“Spain Assumed Liabilities” shall mean the Assumed Liabilities to the extent relating to the CGM Activities conducted in Spain, the Spain Purchased Assets or the Spain Transferred Employees.
“Spain CGM Activities” shall mean, collectively, the Spain Purchased Assets, the Spain Assumed Liabilities and the Spain Transferred Employees.
“Spain Inventory” shall mean the Inventory located in Spain.
“Spain Purchase Price” shall mean the portion of the Purchase Price allocated to the Spain CGM Activities and Spain Inventory value (if any).
“Spain Purchased Assets” shall mean the Specified European Assets located in Spain.
“Spain Transferred Employees” shall mean, as of any determination time, each European Transferred Employee employed in Spain.
“Straddle Period” shall mean any taxable period that begins on or before the Applicable Closing Date and ends after the Applicable Closing Date.
“Sweden Assumed Liabilities” shall mean the Assumed Liabilities to the extent relating to the CGM Activities conducted in Sweden, the Sweden Purchased Assets or the Sweden Transferred Employees.
12
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
“Sweden CGM Activities” shall mean, collectively, the Sweden Purchased Assets, the Sweden Assumed Liabilities and the Sweden Transferred Employees.
“Sweden Inventory” shall mean all Inventory located in Sweden.
“Sweden Purchase Price” shall mean the portion of the Purchase Price allocated to the Sweden CGM Activities and Sweden Inventory value (if any).
“Sweden Purchased Assets” shall mean the Specified European Assets located in Sweden.
“Sweden Transferred Employees” shall mean, as of any determination time, each European Transferred Employee employed in Sweden.
“Tax” shall mean any tax (including any income tax, franchise tax, capital gains tax, estimated tax, gross receipts tax, value-added tax, surtax, excise tax, ad valorem tax, transfer tax, stamp tax, sales tax, use tax, property tax, business tax, occupation tax, inventory tax, occupancy tax, withholding tax or payroll tax), levy, escheat, unclaimed property, assessment, tariff, impost, imposition, toll, duty (including any customs duty), deficiency or fee of any kind whatsoever, and any related charge or amount (including any fine, penalty or interest), and any Liability for the payment of any amounts of the type described above in this sentence as a result of being a transferee of or successor to any Person or as a result of any obligation to assume such Tax or to indemnify any other Person for Tax as a result of the application of Treasury Regulation Section 1.1502-6 or any analogous state, local or foreign Law, any Contract, by operation of Law or otherwise.
“Tax Return” shall mean any return (including any information return), report, statement, declaration, estimate, schedule, notice, notification, form, election, certificate or other document or information that is, has been or may in the future be filed with or submitted to, or required to be filed with or submitted to, any Governmental Body in connection with the determination, assessment, collection or payment of any Tax or in connection with the administration, implementation or enforcement of or compliance with any Law relating to any Tax, including any attachment thereto, and including any amendment thereof.
“Technology” shall mean (a) the media in which any of the items in clause (b)(iii) below is embodied or recorded and (b) the tangible form of technology, know-how and other embodiments of Intellectual Property, including (i) computer software, files, scripts and programs, including source code or object code, and any related documentation; (ii) other tangible embodiments of Copyrights and trade secrets, in each case in whatever form and on whatever media and (iii) inventions (whether or not patentable), invention disclosures, processes, methods, algorithms and formulae, trade secrets, technology, know-how, information, knowledge (including manufacturing knowledge), practices, formulas, instructions, skills, techniques, technical data, designs, drawings, apparatus, results of experiments, test data, including clinical data, analytical and quality control data, manufacturing data and descriptions, market data, devices, assays, procedures (including standard operating procedures), notes of experiments, specifications, compositions of matter, physical, chemical and biological materials, whether in intangible, tangible, written, electronic or other form. For clarity, the term Technology excludes Intellectual Property.
“Tender Contract” means the Contracts, framework agreements, purchase order, or other binding arrangement (including any related amendments, extensions, or renewals) that are related to the CGM
13
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
Activities and entered into by the Seller or any of its Affiliates pursuant to a tender process, public procurement procedure, or competitive bidding process conducted by any Governmental Body or other customer, including any Contract awarded under applicable public procurement laws or regulations, and any Contract that requires compliance with tender specifications, bid terms, or procurement rules.
“Territory” shall mean Sweden, Italy, Germany, Spain and the United States.
“Third Party” shall mean any Person other than Seller or Purchaser or a Seller Affiliate or Purchaser Affiliate.
“Transactional Agreements” shall mean: (a) this Agreement; (b) the Bill of Sale and Assignment Agreement; (c) solely to the extent finalized and executed after Initial Closing Date, the Local Purchase Agreements and (d) all other agreements, instruments and certificates contemplated hereby or thereby to which any Party or any of their respective Affiliates is a party, excluding the Transition Services Agreement and Amended and Restated Existing Agreement.
“Transactions” shall mean (a) the execution and delivery of the respective Transactional Agreements by the Parties and their respective Affiliates (as applicable), and (b) all of the transactions contemplated by the respective Transactional Agreements, including: (i) the sale of the Purchased Assets by Seller to Purchaser in accordance with this Agreement and as applicable, the Local Purchase Agreements; and (ii) the performance by Seller and Purchaser Parties of their respective obligations under the Transactional Agreements, and the exercise by Seller and Purchaser Parties of their respective rights under the Transactional Agreements.
“Transferred Books and Records” shall mean the U.S. Books and Records and the European Books and Records.
“Transferred Technology” means, solely to the extent set forth on Schedule 1.1(a)(i) (with respect to the Transferred Technology in the U.S.) and Schedule 1.1(b)(i) (with respect to any Transferred Technology outside of the U.S.), the tangible forms of Technology owned by Seller or any Seller Affiliate, or, to the extent transferable, licensed by a Third Party to Seller or any Seller Affiliate, that, as of the Agreement Date and continuing through the Applicable Closing, are used exclusively in, and solely for the operation of, the CGM Activities
“Transition Services Agreement” shall mean that certain transition services agreement in the form mutually agreed between the Parties to be executed after the Initial Closing and no later than the first Applicable Closing.
“U.S. Books and Records” shall mean (i) any Books and Records maintained for, or relating generally to, the Specified Initial Assets and/or the U.S. CGM Activities irrespective of whether such Books and Records are comingled with Seller’s non-U.S. CGM Activities and (ii) any employee or personnel files or data, in each case, to the extent exclusively relating to any U.S. Transferred Employee.
“U.S. CGM Activities” shall mean the CGM Activities of the Seller Group in the United States.
“U.S. CGM IP” shall mean any CGM IP related to the U.S. CGM Activities and set forth on Schedule 1.1(a)(ii).
14
CERTAIN PORTIONS OF THIS EXHIBIT (INDICATED BY [***]) HAVE BEEN EXCLUDED PURSUANT TO ITEM 601(B)(10) OF REGULATION S-K BECAUSE THEY ARE BOTH NOT MATERIAL AND ARE THE TYPE THAT THE COMPANY TREATS AS PRIVATE AND CONFIDENTIAL.
“U.S. Equipment” shall mean the Equipment used to perform the U.S. CGM Activities.
“U.S. Inventory” shall mean all Inventory in the United States.
“U.S. Other Materials” shall mean Other Materials which relate to or are used in connection with the U.S. CGM Activities and Specified Initial Assets.
“U.S. Regulatory Materials” shall mean Regulatory Materials which primarily relating to, primarily held for use with, or primarily used in connection with the U.S. CGM Activities and Specified Initial Assets.
15