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VOTING AGREEMENT

Voting Agreement

VOTING AGREEMENT | Document Parties: EPIMMUNE INC | IDM SA | Principal Company You are currently viewing:
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EPIMMUNE INC | IDM SA | Principal Company

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Title: VOTING AGREEMENT
Governing Law: Delaware     Date: 3/18/2005
Industry: Biotechnology and Drugs     Law Firm: Shearman & Sterling LLP; Cooley Godward LLP     Sector: Healthcare

VOTING AGREEMENT, Parties: epimmune inc , idm sa , principal company
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                                                                    Exhibit 99.7

 

================================================================================

 

                                VOTING AGREEMENT

 

                                  by and among

 

                                 EPIMMUNE INC.,

 

                                  HELENE PLOIX,

                       as the Shareholder Representative,

 

                                     and the

 

                          STOCKHOLDERS OF EPIMMUNE INC.

 

                    identified on the signature pages hereto

 

                           Dated as of March 15, 2005

 

================================================================================

 

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                                VOTING AGREEMENT

 

          VOTING AGREEMENT, dated as of March 15, 2005 (this "Agreement"), by

and among EPIMMUNE INC., a Delaware corporation (the "Issuer"), HELENE PLOIX

(the "Shareholder Representative"), as designated representative of certain

shareholders (the "Principal Company Shareholders") of IDM S.A., a societe

anonyme organized under the laws of France (the "Company"), and the stockholders

(each a "Stockholder") of the Issuer, identified on the signature pages hereto.

 

          WHEREAS, the Issuer and the Principal Company Shareholders are

entering into a Share Exchange Agreement, dated as of the date hereof (as

amended from time to time, the "Share Exchange Agreement"; capitalized terms

used but not defined in this Agreement shall have the meanings ascribed to them

in the Share Exchange Agreement), pursuant to which the Issuer has agreed to

acquire from the Principal Company Shareholders, and the Principal Company

Shareholders have agreed to sell to the Issuer, Company ordinary shares in

exchange for shares of Issuer Common Stock;

 

          WHEREAS, as of the date hereof, the Stockholders are the record and

beneficial owner of the number of shares of Issuer Common Stock set forth

opposite each Stockholder's name in Exhibit A hereto (the "Existing Shares" and,

together with any shares of Issuer Common Stock acquired by Stockholder after

the date hereof, whether upon the exercise of warrants, options, conversion of

convertible securities, or by means of purchase, dividend, distribution,

split-up, recapitalization, combination, exchange of shares, gift, bequest,

inheritance or as a successor in interest in any capacity or otherwise and any

shares into which or for which any or all of the Existing Shares and additional

shares may be changed or exchanged, the "Shares"); and

 

          WHEREAS, in connection with the execution and delivery of the Share

Exchange Agreement and as an inducement to the parties thereto incurring the

obligations set forth therein, the Stockholders have agreed to enter into this

Agreement.

 

          NOW, THEREFORE, in consideration of the foregoing and the mutual

covenants and agreements contained herein, and intending to be legally bound

hereby, the parties hereto hereby agree as follows:

 

                                   ARTICLE I

 

                                VOTING AGREEMENT

 

          SECTION 1.01. Voting Agreement. (a) Each Stockholder hereby agrees

that, from and after the date hereof and until the Expiration Date (as defined

in Section 4.01 below) in accordance with its terms, at every meeting of the

stockholders of the Issuer, however called, and at every adjournment thereof,

and in every action by consent of the stockholders of the Issuer, such

Stockholder shall, unless otherwise directed in writing by the Shareholder

Representative, appear at any such meeting or otherwise cause the Shares to be

counted as present thereat for purposes of establishing a quorum, and shall vote

or consent (or cause to be voted or consented)

 

<PAGE>

 

such Stockholder's Shares: (i) in favor of the approval and adoption of the

Share Exchange Agreement and approval of the Issuer Transactions and the other

Transactions contemplated thereby; (ii) except as otherwise agreed to in writing

in advance by the Shareholder Representative, against any action, proposal,

agreement or transaction that is intended or could reasonably be expected to

result in a breach of any covenant, obligation, agreement, representation or

warranty of the Issuer contained in the Share Exchange Agreement; and (iii)

against any action, proposal, agreement or transaction, including, but not

limited to, any Competing Transaction (other than the Share Exchange Agreement),

that could be reasonably expected to result in any of the conditions to the

obligations of the parties under the Share Exchange Agreement not being

fulfilled or that could reasonably be expected to impede, interfere with or

prevent, delay, postpone, discourage or adversely affect the Share Exchange

Agreement or any of the Transactions. Each Stockholder agrees that it will, upon

request by the Shareholder Representative, furnish written confirmation, in form

and substance reasonably acceptable to the Shareholder Representative, of such

Stockholder's vote in accordance with this Section 1.01(a). Each Stockholder

acknowledges receipt and review of a copy of the Share Exchange Agreement.

 

          (b) If a Stockholder fails for any reason to vote such Stockholder's

Shares as required by Section 1.01(a), the holder of the Proxy (as defined in

Section 1.02) shall have the right to vote such Stockholder's Shares at any

meeting of the Issuer's stockholders and in any action by written consent of the

Issuer's stockholders in accordance with Section 1.01(a) and the Proxy. The vote

of a holder of the Proxy shall control in any conflict between a vote of such

Stockholder's Shares by a holder of the Proxy and a vote of such Stockholder's

Shares by such Stockholder with respect to the matters set forth in Section

1.01(a).

 

          (c) Each Stockholder hereby agrees that such Stockholder shall not

enter into any agreement or understanding with any person the effect of which

would be inconsistent with or violative of any provision contained in Section

1.01(a) or (b).

 

          (d) No provision of this Agreement shall limit or otherwise restrict

any Stockholder with respect to any act or omission that such Stockholder may

undertake or authorize in such Stockholder's capacity as a director or officer

of the Issuer.

 

          SECTION 1.02. Irrevocable Proxy. Concurrently with the execution of

this Agreement, each Stockholder has delivered to the Shareholder Representative

a proxy in the form attached as Exhibit B hereto (the "Proxy"), which such

Stockholder agrees at all times prior to the Expiration Date shall be

irrevocable to the fullest extent permissible by law, with respect to the

Shares.

 

 

                                        2

 

<PAGE>

 

                                   ARTICLE II

 

                 REPRESENTATIONS AND WARRANTIES OF STOCKHOLDERS

 

          Each Stockholder hereby severally represents and warrants to the

Shareholder Representative as follows:

 

          SECTION 2.01. Organization, Qualification. (a) Such Stockholder, if it

is an individual, has all legal capacity to enter into this Agreement and to

deliver the Proxy, to carry out his or her obligations hereunder and to

consummate the transactions contemplated hereby.

 

          (b) Such Stockholder, if it is a corporation or other legal entity, is

duly organized, validly existing and, if applicable, in good standing under the

Laws of the jurisdiction of its incorporation or formation and has the requisite

power and authority and all necessary governmental approvals to own, lease and

operate its properties and to carry on its business as it is now being

conducted, except where the failure to be so organized, existing or, if

applicable, in good standing or to have such power, authority and governmental

approvals would not, individually or in the aggregate, prevent or materially

delay consummation of the transactions contemplated by this Agreement or

otherwise prevent or materially delay such Stockholder from performing its

obligations under this Agreement.

 

          (c) Such Stockholder, if it is a corporation or other legal entity, is

not in violation of any of the provisions of its certificate of incorporation,

by-laws or equivalent organizational documents.

 

          SECTION 2.02. Authority Relative to this Agreement. Such Stockholder

has all necessary power and authority to execute and deliver this Agreement and

the Proxy, to perform such Stockholder's obligations hereunder and to consummate

the transactions contemplated hereby. This Agreement and the Proxy have been

duly and validly executed and delivered by such Stockholder and constitute

legal, valid and binding obligations of such Stockholder, enforceable against

such Stockholder in accordance with their terms.

 

          SECTION 2.03. No Conflict. (a) The execution and delivery of this

Agreement and the Proxy by such Stockholder do not, and the performance of this

Agreement and the Proxy by such Stockholder shall not, (i) conflict with or

violate the certificate of incorporation or by-laws or equivalent organizational

documents of such Stockholder (if such Stockholder is a corporation or other

legal entity), (ii) assuming satisfaction of the requirements set forth in

Section 2.03(b) below, conflict with or violate the terms of any trust

agreements or equivalent organizational documents of such Stockholder (if such

Stockholder is a trust), (iii) conflict with or violate any Law applicable to

such Stockholder or by which the Shares owned by such Stockholder are bound or

affected or (iv) result in any breach of, or constitute a default (or an event

that with notice or lapse of time or both would become a default) under, or give

to others any rights of termination, amendment, acceleration or cancellation of,

or result in the creation of a lien or encumbrance on any of the Shares owned by

such Stockholder pursuant to, any note, bond, mortgage, indenture, contract,

agreement, lease, license, permit, franchise or other

 

 

                                        3

 

<PAGE>

 

instrument or obligation to which such Stockholder is a party or by which such

Stockholder or the Shares owned by such Stockholder are bound or affected,

except for any such conflicts, violations, breaches, defaults or other

occurrences that would not, individually or in the aggregate, prevent or

materially delay consummation of the transactions contemplated by this Agreement

and the Proxy or otherwise prevent or materially delay such Stockholder from

performing its obligations under this Agreement and the Proxy.

 

          (b) The execution and delivery of this Agreement an


 
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