Agios Pharmaceuticals, Inc DEFA14A, filed Dec 22, 2020

AGIOS PHARMACEUTICALS, INC.

Date: December 22, 2020

/s/ Jacqualyn A. Fouse

Jacqualyn A. Fouse, Ph.D.

Chief Executive Officer

Agios Pharmaceuticals, Inc. (AGIO)

DEFA14A 2020-12-22

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Added on October 21, 2026

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88 Sidney Street Cambridge, Massachusetts		02139
(Address of principal executive offices)		(Zip code)


Exhibit Number		Description

2.1*		Purchase and Sale Agreement, dated as of December 20, 2020, by and among Agios Pharmaceuticals, Inc., Servier Pharmaceuticals, LLC, and, solely for purposes of guaranteeing certain obligations of the Purchaser, Servier S.A.S.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document)


		Page

ARTICLE I DEFINITIONS			5
Section 1.1	Definitions		5
Section 1.2	Other Defined Terms		26

ARTICLE II PURCHASE AND SALE; CLOSING			29
Section 2.1	Purchase and Sale		29
Section 2.2	Purchase Price		29
Section 2.3	Closing Date		29
Section 2.4	Purchased Assets		29
Section 2.5	Excluded Assets		33
Section 2.6	Assumed Liabilities		35
Section 2.7	Retained Liabilities		36
Section 2.8	Closing Deliveries and Actions		37
Section 2.9	Adjustment to Base Purchase Price		39
Section 2.10	Purchase Price Allocation		42
Section 2.11	Non-Assignment; Consents		43
Section 2.12	Withholding		45
Section 2.13	Earnout Payments		45

ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER			49
Section 3.1	Organization and Standing		49
Section 3.2	Authority; Enforceability		49
Section 3.3	No Conflicts; Consents		50
Section 3.4	Governmental Authorization		51
Section 3.5	Proceedings		51
Section 3.6	Business Financial Information		51
Section 3.7	Absence of Changes or Events		52
Section 3.8	Sufficiency of Assets; Title to Assets		53
Section 3.9	Intellectual Property		53
Section 3.10	Contracts		56
Section 3.11	Product Registrations; Regulatory Compliance; Product Liability and Recalls		59
Section 3.12	Compliance with Applicable Laws; Permits		60
Section 3.13	Environmental Matters		64
Section 3.14	Taxes		64
Section 3.15	Benefit Plans		65
Section 3.16	Labor Matters		66
Section 3.17	Inventories		68
Section 3.18	Customers and Suppliers		68
Section 3.19	Accounts Receivable		68
Section 3.20	Privacy and Security		68
Section 3.21	Brokers		69
Section 3.22	Information Supplied		69
Section 3.23	No Other Representations or Warranties		70



ARTICLE IV REPRESENTATIONS AND WARRANTIES OF PURCHASER		70
Section 4.1	Organization and Standing	71
Section 4.2	Authority; Enforceability	71
Section 4.3	No Conflicts; Consents	71
Section 4.4	Governmental Authorizations	71
Section 4.5	Financial Ability to Perform	72
Section 4.6	Proceedings	72
Section 4.7	Compliance with Laws	72
Section 4.8	Brokers	72
Section 4.9	Solvency	72
Section 4.10	Information Supplied	72
Section 4.11	Acknowledgment of No Other Representations or Warranties	73

ARTICLE V COVENANTS		74
Section 5.1	Efforts	74
Section 5.2	Covenants Relating to Conduct of Business	77
Section 5.3	No Solicitation	79
Section 5.4	Proxy Statement; Stockholders’ Meeting	83
Section 5.5	Confidentiality	84
Section 5.6	Access to Information	86
Section 5.7	Publicity	87
Section 5.8	Intercompany Accounts and Intercompany Arrangements	87
Section 5.9	Financing	88
Section 5.10	Know-How Transfer	88
Section 5.11	Financial Obligations	88
Section 5.12	IP Matters	89
Section 5.13	Insurance	90
Section 5.14	Litigation Support	91
Section 5.15	Misdirected Invoices and Payments	91
Section 5.16	Non-Solicitation of Employees	92
Section 5.17	Misallocated Assets	92
Section 5.18	Certain Registrations	93
Section 5.19	Mail and Other Communications	94
Section 5.20	Bulk Transfer Laws	94
Section 5.21	Notifications and Consents Under Specified Business Contracts	94
Section 5.22	Pharmacovigilance Matters	95
Section 5.23	Transfer of Clinical Studies	95
Section 5.24	Additional Financial Information	95
Section 5.25	Additional Asset Information	95
Section 5.26	Transition Services Agreement and Transition Distribution Services Agreement	95
Section 5.27	RWI Policy	96
Section 5.28	Restricted Program	96
Section 5.29	IP License	96

ARTICLE VI EMPLOYEE MATTERS		96
Section 6.1	Transfer of Business Employees	96


Section 6.2	Compensation and Employee Benefits	97
Section 6.3	U.S. Defined Contribution Plans	99
Section 6.4	Equity Compensation	100
Section 6.5	Short-Term Incentive Compensation	100
Section 6.6	Immigration Compliance	101
Section 6.7	Communications	101
Section 6.8	Third-Party Beneficiary Rights	101

ARTICLE VII CERTAIN TAX MATTERS		102
Section 7.1	Cooperation and Exchange of Information	102
Section 7.2	Tax Treatment of Payments	102
Section 7.3	Transfer Taxes	102
Section 7.4	Tax Apportionment	102

ARTICLE VIII CONDITIONS PRECEDENT		103
Section 8.1	Conditions to Each Party’s Obligations to Close	103
Section 8.2	Conditions to Obligations of Purchaser to Close	103
Section 8.3	Conditions to Obligations of Seller to Close	104
Section 8.4	Frustration of Closing Conditions	104

ARTICLE IX TERMINATION; EFFECT OF TERMINATION		104
Section 9.1	Termination	104
Section 9.2	Effect of Termination	106
Section 9.3	Notice of Termination	106
Section 9.4	Termination Fee	106

ARTICLE X INDEMNIFICATION		107
Section 10.1	Survival	107
Section 10.2	Indemnification by Seller	108
Section 10.3	Indemnification by Purchaser	108
Section 10.4	Procedures	109
Section 10.5	Exclusive Remedy	110
Section 10.6	Additional Indemnification Provisions	111
Section 10.7	Mitigation	111
Section 10.8	GCP Audits	111

ARTICLE XI GENERAL PROVISIONS		112
Section 11.1	Entire Agreement	112
Section 11.2	Disclosure Schedules	112
Section 11.3	Assignment	112
Section 11.4	Amendments and Waivers	112
Section 11.5	No Third-Party Beneficiaries	112
Section 11.6	Notices	112
Section 11.7	Specific Performance	114
Section 11.8	Governing Law and Jurisdiction	114
Section 11.9	Waiver of Jury Trial	114
Section 11.10	Severability	115
Section 11.11	Counterparts	115
Section 11.12	Expenses	115


Section 11.13	Interpretation; Absence of Presumption	115
Section 11.14	Waiver of Conflicts Regarding Representation; Nonassertion of Attorney-Client Privilege; Communications with Internal Counsel	117
Section 11.15	Purchaser Guaranty	118


Term	Section
Acceptable Confidentiality Agreement		5.3	(c)
Agreement		Preamble
Allocation Dispute Resolution Period		2.10	(b)
Annual Net Sales Statement		2.13	(a)(iv)
Anti-Corruption Laws		3.12	(b)
Applicable Earn-Out Payment Date		2.13	(j)
Approvals		2.11	(a)
Assignment Agreement and Bill of Sale		2.8	(a)(iv)
Assumed Liabilities		2.6
Base Purchase Price		2.2
Business Current Assets		2.4	(d)
Business Field		1.1
Business Financial Information		3.6	(a)
Business Intellectual Property		2.4	(b)
Business Permits		3.13	(d)
Clearance Date		5.4	(a)
Clinical Study Transfer Agreement		5.23
Closing		2.3
Closing Date		2.3
Closing Statement		2.9	(b)
COBRA		6.2	(d)(i)


Competing Acquisition Agreement	5.3	(e)
Confidential Business Information	5.3	(b)
Confidentiality Agreement	5.5	(a)
Contributor	3.9	(f)
Controlling Party	10.4	(d)
COVID-19	1.1
COVID-19 Measures	1.1
Current Representation	11.14	(a)
Data Room	11.13
Designated Person	11.14	(a)
Dispute Notice	2.9	(d)
Dispute Resolution Period	2.9	(d)
Disputed Amount	2.13	(j)
Earn-Out Payment	2.13	(a)(i)
Earn-Out Product Transaction	2.13	(g)
EMA	1.1
Equity Plan	6.4
Estimated Adjustment Amount	2.9	(b)
Exchange Act	3.4
Excluded Assets	2.5
FCPA	3.12	(b)
Final Allocation	2.10	(b)
Final Purchase Price	2.9	(f)
Guaranteed Obligations	11.15	(a)
Guarantees	5.11
Handling	3.20
ICH	1.1
Indemnified Party	10.4	(a)
Indemnifying Party	10.4	(a)
Independent Accounting Firm	2.9	(d)
INDs	5.18	(b)
IP Assignments	2.8	(b)(vi)
Material Contracts	3.10	(a)
Material Customers	3.10	(a)(i)
Material Supplier	3.10	(a)(ii)
Mono Product	1.1
New Plans	6.2	(c)
Non-Controlling Party	10.4	(d)
ODD	5.18	(b)
OFAC	3.12	(l)
Old Plans	6.2	(c)
Outside Date	9.1	(d)
Parties	Preamble
Post-Closing Representation	11.15	(a)
Post-Closing Statement	2.9	(c)
Preliminary Jurisdictional Allocation	2.10	(a)


Privileged Communications	11.14	(b)
Protected Period	6.2	(a)
Proxy Statement	3.22
Purchased Assets	2.4
Purchaser	Preamble
Purchaser Covered Person	5.16	(b)
Purchaser DC Plans	6.3	(a)
Purchaser FSA Plan	6.2	(e)
Purchaser Guarantor	Preamble
Purchaser Indemnified Parties	10.2	(a)
Purchaser Taxes	10.4	(d)
Quarterly Net Sales Statement	2.13	(a)(iii)
Registration Approvals	1.1
Released Earn-Out Amount	2.13	(j)
Restricted Parties	3.12	(l)
Retained Businesses	1.1
Retained Businesses Field	1.1
Retained Business Intellectual Property	5.29
Retained IP License	2.11	(e)
Retained Liabilities	2.7
Sale Process NDA	5.3	(b)
Sanctioned Countries	3.12	(l)
Security Breach	3.20
Seller	Preamble
Seller Adverse Recommendation Change	5.3	(e)
Seller Board	Recitals
Seller Collection Fees and Expenses	9.4	(c)
Seller Covered Person	5.16	(a)
Seller DC Plans	6.3	(a)
Seller FSA Plan	6.2	(e)
Seller Indemnified Parties	10.3	(a)
Seller Recommendation	3.2	(a)
Seller Severance Policy	6.2	(a)
Seller Stockholder Approval	3.2	(a)
Seller Stockholders’ Meeting	5.4	(b)
Seller Taxes	10.4	(d)
Shared Contract	2.11	(c)
Specified Business Contracts	2.4	(a)(ii)
Specified Indemnity Claim	2.13	(j)
Tax Claim	10.4	(d)
Termination Fee	9.4	(a)
Third Party Claim	10.4	(a)
Transaction	Recitals
Transaction Accounting Principles	2.9	(a)
Transfer Taxes	7.3
Transferred FSA Balances	6.2	(e)


Transferred Inventory	2.4	(e)
Transferred Tangible Personal Property	2.4	(c)
Transition Distribution Services Agreement	5.26
Transition Services Agreement	2.8	(a)(iii)
Working Capital Determination Schedule	2.9	(a)


AGIOS PHARMACEUTICALS, INC.

By:		/s/ Jacqualyn A. Fouse
Name:		Jacqualyn A. Fouse
Title:		Chief Executive Officer

SERVIER PHARMACEUTICALS, LLC

By:		/s/ David K. Lee
Name:		David K. Lee
Title:		Chief Executive Officer

SERVIER S.A.S.

By:		/s/ Olivier Laureau
Name:		Olivier Laureau
Title:		President