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Exhibit 99.1
VOTING AGREEMENT
This
Voting Agreement (the “Agreement”) is made and
entered into as of November ___, 2005, between Solexa, Inc., a Delaware
corporation (the “Company”), and the undersigned
stockholder (“Holder”) of the Company.
RECITALS
Whereas, Holder is the registered
owner of such number of the Company’s common stock, par value $0.01 per
share (the “Common Stock”) and options to purchase
such number of shares of Common Stock as indicated beneath Holder’s
signature on the last page of this Agreement (shares of Common Stock, exclusive
of options to purchase Common Stock, indicated as being owned by Holder on the
signature page hereto shall be referred to herein as the “Shares”);
Whereas, the Holder is purchasing
shares of Common Stock and warrants to purchase shares of Common Stock pursuant
to that certain Securities Purchase Agreement (the “Purchase
Agreement”) of even date herewith (the “Private
Placement”);
Whereas, the obligations in the
Purchase Agreement are conditioned upon the execution and delivery of this
Agreement; and
Whereas, in connection with the
consummation of the Private Placement, the Company and Holder have agreed to
provide for the voting of the Holder’s Shares and the rights as set forth
below.
Now, Therefore, in consideration of
these premises and for other good and valid consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
AGREEMENT
1. New
Shares. Holder agrees that any shares of capital stock or interests in
shares or other securities of the Company that Holder purchases or with respect
to which Holder otherwise acquires registered or beneficial ownership after the
date hereof and prior to March 31, 2006 (“New Shares”)
shall be subject to the terms and conditions of this Agreement to the same
extent as if they constituted Shares.
2. Agreement
to Vote Shares. Until March 31, 2006, Holder shall, at any meeting
(whether annual or extraordinary and whether or not an adjourned or postponed
meeting) of stockholders of the Company or of any class of stockholders of the
Company, however called, or in connection with any written resolution of the
holders of shares or any class of shares in the capital of the Company, vote
the Shares and any New Shares held by Holder in favor of the issuance of Common
Stock and warrants pursuant to the Private Placement and any other transactions
contemplated by the Purchase Agreement. The Holder hereby agrees that he or she
will not vote the Shares and New Shares in favor of the approval of any action
the consummation of which would frustrate the purposes, or prevent or delay the
consummation of, the transactions
contemplated by the Purchase
Agreement. This Agreement is intended to bind Holder as a holder of Shares of
the Company only with respect to the specific matters set forth herein. Except
as set forth this Section 2, Holder shall not be restricted from voting in
favor of, against or abstaining with respect to any other matter presented to
the stockholders of the Company.
3. Irrevocable
Proxy. Concurrently with the execution of this Agreement, Holder agrees
to deliver to the Company a proxy in the form attached hereto as Exhibit A
(the “Proxy”), which shall be irrevocable to the
fullest extent permitted by law.
4. Representations,
Warranties and Covenants of Holder. Holder hereby represents, warrants
and covenants to the Company that Holder (i) is the registered owner and,
as set forth on the signature page, beneficial owner, of the Shares and options
to purchase Common Stock, if any, indicated below Holder’s signature on
the signature page to this Agreement, which at the date of this Agreement and
at all times up until March 31, 2006, are, and will be, free and clear of
any liens, claims, options, charges or other encumbrances, and (ii) is not
the registered owner of any shares, options or other securities in, or
convertible into, capital stock of the Company, other than the Shares and the
options to purchase Common Stock, if any, indicated below Holder’s
signature on the last page of this Agreement. Holder has the legal capacity,
power and authority to enter into and perform all of Holder’s obligations
under this Agreement (including under the Proxy). This Agreement (including the
Proxy) has been duly and validly executed and delivered by Holder and
constitutes a valid and binding agreement of Holder, enforceable against Holder
in accordance with its terms, subject to (a) laws of general application
relating to bankruptcy, insolvency and the relief of debtors and (b) rules
of law governing specific performance, injunctive relief and other equitable
remedies.
5. Further
Assurances. Holder shall perform such further acts and execute such
further documents and instruments as may reasonably be required to vest in the
Company the power to carry out and give effect to the provisions of this
Agreement.
6. Fiduciary
Duties. Notwithstanding anything in this Agreement to the contrary: (i)
Holder makes no agreement or understanding herein in any capacity other than in
Holder’s capacity as a registered owner of the Shares and, to the extent
applicable, any New Shares, (ii) nothing in this Agreement shall be
construed to limit or affect any action or inaction by Holder, or any officer,
partner, member or employee, as applicable, of Holder, serving on the
Company’s Board of Directors acting in such person’s capacity as a
director or fiduciary of the Company, and (iii) Holder shall have no liability
to Parent or any its affiliates under this Agreement as a result of any action
or inaction by Holder, or any officer, partner, member or employee, as
applicable, of Holder, serving on the Company’s Board of Directors acting
in such person’s capacity as a director or fiduciary of the Company.
7. Miscellaneous.
(a) Amendments
and Waivers. Any term of this Agreement may be amended or waived with
the written consent of the Company and Holder or their respective successors
and assigns. Any amendment or waiver effected in accordance with this Section
7(a) shall be binding upon the parties and their respective successors and
assigns.
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(b) Governing
Law. This Agreement and all acts and transactions pursuant hereto and
the rights and obligations of the parties hereto shall be governed, construed
and interpreted in accordance with the laws of the State of California, without
giving effect to principles of conflicts of law.
(c) Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original and all of which together shall constitute one
instrument.
(d) Titles
and Subtitles. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting
this Agreement.
(e) Notices.
Any notice or other communication required or permitted to be delivered to any
party under this Agreement shall be in writing and shall be deemed properly
delivered, given and received (i) when delivered by hand; (ii) on the
day sent by facsimile, provided that the sender has received confirmation of
transmission as of or prior to 5:00 p.m. local time of the recipient, on such
day; (iii) the first Business Day after sent by facsimile (to the extent that
(A) the sender has received confirmation of transmission after 5:00 p.m.
local time of the recipient on the day sent by facsimile, or (B) notice is
sent on a day that is not a Business Day); or (iv) the third Business Day
after sent by registered mail or by courier or express delivery service, in
each case to the address or facsimile number set forth on the signature page to
this Agreement beneath the name of such party, or to such other address or
facsimile number as such party shall have specified in a written notice given
to the other party hereto.
(f) Severability.
If one or more provisions of this Agreement are held to be invalid or
unenforceable under the applicable law of any jurisdiction, the parties agree
to renegotiate such provision in good faith, in order to maintain the economic
position enjoyed by each party as close as possible to that under the provision
rendered unenforceable. In the event that the parties cannot reach a mutually
agreeable and enforceable replacement for such provision, then (i) such
provision shall be excluded from this Agreement, (ii) the balance of the
Agreement shall be interpreted as if such provision were so excluded and
(iii) the balance of the Agreement shall be valid and enforceable in accordance
with its terms. Each provision of this Agreement is separable from any other
provisions of this Agreement, and each part of each provision of this Agreement
is severable from every other part of such provision.
(g) Specific
Performance. Each of the parties hereto recognizes and acknowledges
that a breach of any covenants or agreements contained in this Agreement will
cause the Company to sustain damages for which it would not have an adequate
remedy at law for money damages, and therefore each of the parties hereto
agrees that in the event of any such breach the Company shall be entitled to
the remedy of specific performance of such covenants and agreements and
injunctive and other equitable relief in addition to any other remedy to which
they may be entitled, at law or in equity.
(h) Entire
Agreement. This Agreement, the Proxy, and any other documents delivered
by the parties in connection herewith constitute the entire agreement between
the
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parties with respect to the
subject matter hereof and thereof and supersede all prior agreements and
understandings between the parties with respect thereto. No addition to or
modification of any provision of this Agreement shall be binding upon either
party unless made in writing and signed by both parties.
[signature page follows]
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The
parties have caused this Agreement to be duly executed on the date first above
written.
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