|
VOTING AGREEMENT
This VOTING AGREEMENT (this "Agreement") is made and entered
into as of
[August 8], 2007, by and between IntegraMed America, Inc., a
Delaware
corporation ("IntegraMed"), and the undersigned Stockholders
(collectively,
"Stockholders," individually, a "Stockholder") of
IntegraMed.
RECITALS
A. IntegraMed, Vein Clinics of America, Inc., a Delaware
corporation,
IDVC Acquisition Co., a Delaware corporation and wholly-owned
subsidiary of
IntegraMed ("IDVC") and Stockholders have entered into a Stock
Purchase
Agreement of even date herewith (the "Stock Purchase Agreement")
which provides
for the purchase by IDVC of all outstanding shares of common
stock of VCA held
by Stockholders in consideration of certain cash and shares of
Common Stock, par
value $.01 per share, of IntegraMed ("IntegraMed Common Stock")
(the
transactions contemplated under the Stock Purchase Agreement,
the
"Transactions").
B. Each Stockholder is the beneficial owner (as such term is
defined
under Rule 13(d)(3) promulgated under the Securities Exchange
Act of 1934, as
amended) of such number of shares of IntegraMed Common Stock, as
set forth on
the signature page(s) hereof.
C. As an inducement and a condition to entering into the Stock
Purchase
Agreement, IntegraMed has requested that Stockholders agree, and
each
Stockholder has agreed (in Stockholder's capacity as such), to
enter into this
Agreement in order to facilitate the consummation of the
Transactions.
NOW, THEREFORE, intending to be legally bound, the parties
hereto agree
as follows:
1. Definitions. For the purposes of this Agreement, capitalized
terms
that are used but not defined herein shall have the respective
meanings ascribed
thereto in the Stock Purchase Agreement.
"Expiration Date" shall mean two years from each date of receipt
of
Shares by a Stockholder.
"Shares" shall mean: (i) all securities of IntegraMed (including
all
shares of IntegraMed Common Stock and all options, warrants and
other rights to
acquire shares of IntegraMed Common Stock) owned by a
Stockholder as of the date
of this Agreement, and (ii) all additional securities of
IntegraMed (including
all additional shares of IntegraMed Common Stock and all
additional options,
warrants and other rights to acquire shares of IntegraMed Common
Stock) of which
a Stockholder acquires beneficial ownership pursuant to the
Stock Purchase
Agreement (including any Shares issued pursuant to an Earn-Out
Payment).
A Person shall be deemed to have effected a "Transfer" of a
security if
such Person directly or indirectly (i) offers for sale, sells,
assigns, pledges,
encumbers, grants an option with respect to, transfers or
otherwise disposes of
<PAGE>
such security or any interest therein, or (ii) enters into an
agreement,
commitment or other arrangement providing for the sale of,
assignment of, pledge
of, encumbrance of, granting of an option with respect to,
transfer of or
disposition of such security or any interest therein; provided,
however, that
the granting by Stockholder of a security interest in Shares to
a brokerage firm
to secure a cash loan from such brokerage firm for the purpose
of purchasing
shares of IntegraMed Common Stock upon exercise of IntegraMed
Options
outstanding on the date of this Agreement shall not be deemed a
"Transfer" for
purposes of this Agreement.
2. Restriction on Transfer, Proxies and Non-Interference;
Stop
Transfer. Except as expressly contemplated by this Agreement, at
all times
during the period commencing with the execution and delivery of
this Agreement
and continuing until the Expiration Date, a Stockholder shall
not, directly or
indirectly, (i) cause or permit the Transfer of any of the
Shares to be
effected, or discuss, negotiate or make any offer regarding any
Transfer of any
of the Shares, unless such Transfer is made in compliance with
applicable
federal and state securities laws in effect on the date hereof,
(ii) grant any
proxies or powers of attorney with respect to any of the Shares,
deposit any of
the Shares into a voting trust or enter into a voting agreement
or other similar
commitment or arrangement with respect to any of the Shares in
contravention of
the obligations of such Stockholder under this Agreement, (iii)
request that
IntegraMed register the Transfer of any certificate or
uncertificated interest
representing any of the Shares, unless such Transfer is made in
compliance with
applicable federal and state securities laws, or (iv) take any
action that would
make any covenant of such Stockholder contained herein untrue or
incorrect, or
have the effect of preventing or disabling such Stockholder from
performing any
of Stockholder's obligations under this Agreement. Each
Stockholder hereby
agrees that, in order to ensure compliance with the restrictions
referred to
herein, IntegraMed may issue appropriate "stop transfer"
instructions to its
transfer agent in respect of the Shares.
3. Voting Agreement. At any meeting of IntegraMed's
stockholders
called, however called, and at every adjournment or postponement
thereof, each
Stockholder shall appear at such meeting, in person or by proxy,
or otherwise
cause all of the Shares to be counted as present thereat for
purposes of
establishing a quorum thereat, and such Stockholder shall vote,
or cause to be
voted (and on every action or approval by written consent of
stockholders, act,
or cause to be acted, by written consent) with respect to all of
the Shares that
such Stockholder is entitled to vote or as to which such
Stockholder has the
right to direct the voting, as of the relevant record date, in
favor of any
proposal recommended by the management of IntegraMed and against
any proposal
not recommended by the management of IntegraMed.
4. Irrevocable Proxy. Concurrently with the execution of
this
Agreement, each Stockholder shall deliver to IntegraMed an
irrevocable proxy in
the form attached hereto as Exhibit A (the "Proxy"), which shall
be irrevocable
to the fullest extent permitted by applicable law, with respect
to the Shares.
5. Representations and Warranties. Each Stockholder hereby
represents
and warrants, severally and not jointly, as follows:
(a) Ownership of Shares. Stockholder is the beneficial owner
(as
such term
is defined under Rule 13(d)(3) promulgated under the
Securities
Exchange Act of 1934, as amended, except that such terms shall
include
2
<PAGE>
Shares that may be acquired more than sixty (60) days from the
date
hereof) of all of the Shares set forth on the signature page
hereof.
Stockholder has sole voting power and the sole power of
disposition
with respect to all such Shares, with no limitations,
qualifications or
restrictions on such rights, subject to applicable federal
securities
laws and the terms of this Agreement. Stockholder is the sole
record
holder (as reflected in the records maintained by IntegraMed's
transfer
agent for IntegraMed Common Stock) of all such Shares.
(b) Power; Binding Agreement. Stockholder has the legal
capacity,
power and authority to enter into and perform all of
Stockholder's
obligations under this Agreement. The execution, delivery
and
performance of this Agreement by Stockholder will not violate
(i) any
agreement or court order to which Stockholder is a party or is
subject,
including, without limitation, any voting agreement or voting
trust or
(ii) any Law of any Governmental Entity. This Agreement has been
duly
and validly executed and delivered by Stockholder and consti
|