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<SEC-DOCUMENT>0000950123-10-024973.txt : 20100316
<SEC-HEADER>0000950123-10-024973.hdr.sgml : 20100316
<ACCEPTANCE-DATETIME>20100316080336
ACCESSION NUMBER:		0000950123-10-024973
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100315
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100316
DATE AS OF CHANGE:		20100316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEXICON PHARMACEUTICALS, INC./DE
		CENTRAL INDEX KEY:			0001062822
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				760474169
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30111
		FILM NUMBER:		10683709

	BUSINESS ADDRESS:	
		STREET 1:		8800 TECHNOLOGY FOREST PLACE
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77381
		BUSINESS PHONE:		2818633000

	MAIL ADDRESS:	
		STREET 1:		8800 TECHNOLOGY FOREST PLACE
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77381

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXICON GENETICS INC/TX
		DATE OF NAME CHANGE:	20000126
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>h70210e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): March&nbsp;15, 2010</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Lexicon Pharmaceuticals, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Exact name of registrant as specified in its charter)</B></DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-30111</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>76-0474169</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>(State or other jurisdiction of <BR>
incorporation or organization)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Commission File Number)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(I.R.S. Employer<BR>
Identification Number)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>8800 Technology Forest Place<BR>
The Woodlands, Texas 77381<BR>
(Address of principal executive<BR>
offices and Zip Code)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(281)&nbsp;863-3000<BR>
(Registrant&#146;s telephone number,<BR>
including area code)</B></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following provisions:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>









<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">










<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01 Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Signatures</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">Index to Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="h70210exv10w1.htm">EX-10.1</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;1.01 Entry into a Material Definitive Agreement" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March&nbsp;15, 2010, we entered into a supplement to transaction agreements with Invus,
L.P., our largest stockholder (&#147;Invus&#148;), and one of its affiliates, supplementing the terms of our
securities purchase, stockholders&#146; and registration rights agreements, dated June&nbsp;17, 2007, with
Invus, in the case of the securities purchase agreement, as previously amended. Under the
securities purchase agreement, Invus made an initial investment of $205.5&nbsp;million to purchase
50,824,986 shares of our common stock in August&nbsp;2007 and, prior to giving effect to the supplement
to transaction agreements, had the right to require us to initiate up to two pro rata rights
offerings to our stockholders, which would provide all stockholders with non-transferable rights to
acquire shares of our common stock, in an aggregate amount of up to $344.5&nbsp;million, less the
proceeds of any &#147;qualified offerings&#148; that we may complete in the interim involving the sale of our
common stock at prices above $4.50 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This supplement to transaction agreements, which was entered into in connection with a
proposed public offering of our common stock and became effective upon (and subject to) Invus&#146;
grant of consent with respect to such offering, (a)&nbsp;extends the period during which Invus may
exercise its right to require us to conduct the first rights offering under the securities purchase
agreement from one year beginning on November&nbsp;28, 2009 to 15&nbsp;months following November&nbsp;28, 2009,
(b)&nbsp;includes an affiliate of Invus as a holder of registrable shares under the registration rights
agreement, (c)&nbsp;provides that any additional shares purchased by Invus and its
affiliates from the underwriters will not be restricted shares under the stockholders&#146; agreement,
with the result that such shares will not be subject to the voting restrictions and will not be
excluded in determining whether Invus exceeds the 50% ownership threshold at which certain rights
under the stockholders&#146; agreement are triggered or terminate, as would otherwise be the case with
respect to shares purchased by Invus from third parties, and (d)&nbsp;reduces the maximum amount of the
first and second rights offerings under the securities purchase agreement by the net proceeds to us
of the proposed public offering and concurrent private placement, or by approximately $165.0
million. As a result, after giving effect to the supplement to transactions agreements, the
maximum amount subject to the first rights offering will not exceed approximately $7.3&nbsp;million.
</DIV>
<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Exhibits
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Supplement to Transaction Agreements, dated March&nbsp;15,
2010, with Invus, L.P. and Invus C.V.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "Signatures" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Signatures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Lexicon Pharmaceuticals, Inc.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:  March 15, 2010&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ <FONT style="font-variant: SMALL-CAPS">Jeffrey L. Wade</FONT>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Jeffrey L. Wade&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left"><I>Executive Vice President and<BR>
General Counsel</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "Index to Exhibits" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Index to Exhibits</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Supplement to Transaction Agreements, dated March&nbsp;15,
2010, with Invus, L.P. and Invus C.V.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>h70210exv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SUPPLEMENT TO<BR>
TRANSACTION AGREEMENTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Supplement to Transaction Agreements (this &#147;<U>Supplement</U>&#148;) is entered into as of
March&nbsp;15, 2010 by and among Invus, L.P., a Bermuda limited partnership (&#147;<U>Invus, L.P.</U>&#148;),
Invus C.V., a Netherlands limited partnership (&#147;<U>Invus C.V.</U>&#148;, and, together with Invus,
L.P., the &#147;<U>Investors</U>&#148;), and Lexicon Pharmaceuticals, Inc., a Delaware corporation (the
&#147;<U>Company</U>&#148;). Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed to them in the Securities Purchase Agreement (as defined below).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">WITNESSETH:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Invus, L.P. and the Company entered into the Securities Purchase Agreement, dated as
of June&nbsp;17, 2007, by and between Invus, L.P. and the Company (as amended, supplemented or otherwise
modified, the &#147;<U>Securities Purchase Agreement</U>&#148;), the Stockholders&#146; Agreement, dated as of
June&nbsp;17, 2007 (as amended, supplemented or otherwise modified, the &#147;<U>Stockholders&#146;
Agreement</U>&#148;) and the Registration Rights Agreement, dated as of June&nbsp;17, 2007 (as amended,
supplemented or otherwise modified, the &#147;<U>Registration Rights Agreement</U>&#148;, and, together with
the Securities Purchase Agreement and the Stockholders&#146; Agreement, the &#147;<U>Transaction
Agreements</U>&#148;);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company desires to issue and sell shares of Company Common Stock in an
underwritten offering registered under the Securities Act (the &#147;<U>Offering</U>&#148;), which Offering
requires the consent of Invus, L.P. under the Securities Purchase Agreement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, in connection with the Offering, Invus, L.P. and the Company desire to amend the
Transaction Agreements in certain respects, and assign certain rights under the Transaction
Agreements to Invus C.V.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, intending to be legally bound hereby, the parties hereto hereby agree as
follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;1. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Amendment to the Securities Purchase Agreement</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The first sentence of Section&nbsp;3.01(a) of the Securities Purchase Agreement is hereby amended
and restated in its entirety to read as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Subject to Section&nbsp;3.03(e), for a period of fifteen (15)&nbsp;months following the First
Rights Offering Trigger Date, the Investor shall have the right, but not the
obligation, exercisable by a written notice (the &#147;<U>First Rights Offering
Notice</U>&#148;) to the Company in accordance with Section&nbsp;10.02, to require the Company
to make a pro rata offering (the &#147;<U>First Rights Offering</U>&#148;) to all holders of
Company Common Stock (including the Investor and its affiliates) of non-transferable
subscription rights (the &#147;<U>First Rights</U>&#148;) entitling the holders thereof to
purchase shares of Company Common Stock, on the terms set forth herein, (i)&nbsp;in
an aggregate amount equal to the First Rights Offering Amount, and (ii)&nbsp;at a
price per share (the &#147;<U>First Rights Offering Price</U>&#148;) to be designated by the
Investor at
</DIV>
</DIV>
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="right" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">any time on or after delivery of the First Rights Offering Notice and before the
establishment of the record date for the distribution of the First Rights to the
Company&#146;s stockholders (provided that the establishment of such record date shall
not be prior to the time the First Rights Offering Registration Statement shall have
been declared effective by the SEC) by written notice (the &#147;<U>First Rights
Offering Pricing Notice</U>&#148;) to the Company in accordance with Section&nbsp;10.02;
<I>provided </I>that the First Rights Offering Price shall be any price (A)&nbsp;at or above the
lower of $4.50 (as adjusted for any stock splits, reverse splits, stock dividends,
combinations or similar transactions occurring after the date hereof and prior to
the First Rights Offering) and the average of the volume weighted average trading
prices of the Company Common Stock on the Nasdaq Stock Market for the ten (10)&nbsp;full
trading days immediately prior to the date of the First Rights Offering Pricing
Notice (the &#147;<U>First Rights Offering Market Price</U>&#148;) and (B)&nbsp;at or below the
higher of $4.50 (as adjusted for any stock splits, reverse splits, stock dividends,
combinations or similar transactions occurring after the date hereof and prior to
the First Rights Offering) and the First Rights Offering Market Price.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;2. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Amendment to the Registration Rights Agreement</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The definition of &#147;Holders&#148; in Section&nbsp;1.01 of the Registration Rights Agreement is hereby
amended and restated in its entirety to read as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#147;<U>Holders</U>&#148; means the Investor, Invus C.V., a Netherlands limited partnership,
any Assigned Transferee and any affiliate of the Investor that holds Stock.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The parties hereto hereby intend that the foregoing amendment will give Invus C.V. and any
other person satisfying such definition the rights of Holders under the Registration Rights
Agreement. Pursuant to Section&nbsp;5.06 of the Registration Rights Agreement, Invus, L.P., as the
Holder (as defined in the Registration Rights Agreement) of a majority of the outstanding shares of
Registrable Securities (as defined in the Registration Rights Agreement), hereby consents to the
above amendment to Section&nbsp;1.01 of the Registration Rights Agreement, and the Company expressly
acknowledges the receipt of such consent.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;3. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Consent to Further Amendments; Further Assurances</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties hereto hereby consent to such other amendments and changes to the Securities
Purchase Agreement and Ancillary Agreements as necessary to give effect to the intent of this
Supplement and shall execute and deliver or cause to be executed and delivered any additional
documents, certificates, consents, waivers and instruments and perform any additional acts that may
be reasonably necessary or appropriate to effectuate and perform the provisions of this Supplement
and those transactions contemplated herein.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;4. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Assignments; Further Agreements</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;In connection with the Offering, the Company acknowledges that Invus C.V. will purchase
29,021,739 shares of Company Common Stock. Upon such purchase, Invus C.V. shall
</DIV>
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="right" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">have the same rights and obligations as the Investor (as defined in the applicable agreement) under
the Securities Purchase Agreement and Stockholders&#146; Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The parties hereto hereby agree that none of the shares of Company Common Stock acquired
by the Investors, whether directly from the Company or from the underwriters in the Offering
(including any shares in excess of Invus, L.P.&#146;s Pro Rata Number (as defined in the Stockholders&#146;
Agreement) of the sum of (x)&nbsp;the shares to be offered in the Offering and (y)&nbsp;the shares to be
purchased by the Investors directly from the Company), shall be Restricted Shares (as defined in
the Stockholders&#146; Agreement (any such shares, the &#147;<U>Pro Rata Excess Shares</U>&#148;)), and all such
shares shall be deemed to be acquired by the Investors as contemplated by the second sentence of
Section&nbsp;4.01(a) for purposes of determining the Investors&#146; Percentage Limit (as defined in the
Stockholders&#146; Agreement) under the Stockholders&#146; Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The maximum amount of the First Rights Offering Amount and Second Rights Offering Amount
shall each be reduced by the sum of the net proceeds to the Company of the sales of shares of
Company Common Stock (x)&nbsp;in the Offering and (y)&nbsp;directly to the Investors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Invus, L.P. hereby represents and warrants to the Company that Invus C.V. is an affiliate
(as defined in the Stockholders&#146; Agreement) of Invus, L.P.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;5. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Consent to Waiver of Investor Election Period in Section&nbsp;4.</B><B>02(b)</B><B> of the </B></U>
<U><B>Stockholders&#146; Agreement</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;With respect to the Offering (including any related overallotment option), the Company and
Invus, L.P. hereby waive any applicability to the Offering of the notice provisions contained in
Section&nbsp;4.02(b) of the Stockholders&#146; Agreement and agree that notice will be delivered as follows:
the Company shall deliver a Notice of Issuance specifying the price to public and number of shares
to be sold to public in the Offering on the date the underwriting agreement is expected to be
signed by the Company in connection with the Offering and, upon receipt of such notice by Invus,
L.P., the Investors (i)&nbsp;shall exercise their rights under Section&nbsp;4.02 with respect to the Offering
by delivering notice of such exercise substantially concurrently with the signing by the Company of
the underwriting agreement with respect thereto, and (ii)&nbsp;shall retain the right to make an
election whether to exercise their rights under Section&nbsp;4.02 with respect to any additional New
Securities issued upon the exercise by the underwriters of their overallotment option in connection
with such Offering by delivering notice of such exercise as promptly as practicable following the
Company&#146;s notice to Invus, L.P. of the underwriters&#146; exercise of such option. For the avoidance of
doubt, with respect to the Offering, Invus, L.P. waives its right to deliver notice of its intent
to participate in the Offering ten (10)&nbsp;business days following receipt of the Notice of Issuance
related thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Invus, L.P. and Invus C.V. expressly acknowledge and agree that the provisions of Section
4.02(b) of the Stockholders&#146; Agreement relating to the free transferability of shares to be
received in the Offering shall not affect their obligations under their &#147;lock-up&#148; agreements dated
March&nbsp;8, 2010 with the underwriters, which restrict the transferability of New Securities to be
issued by the Company in connection with the Offering.
</DIV>
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="right" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;6. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Effectiveness; Termination</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Supplement shall become effective only upon delivery by Invus, L.P. to the Company,
pursuant to Section&nbsp;6.02(a) of the Securities Purchase Agreement, of Invus, L.P.&#146;s written consent
to the Offering substantially in the form of Exhibit&nbsp;A hereto (the &#147;<U>Offering Consent</U>&#148;).
Notwithstanding any such delivery, in the event that the underwriting agreement relating to the
Offering is not executed on or before March&nbsp;26, 2010, (i)&nbsp;this Supplement shall terminate and cease
to have any force or effect and (ii)&nbsp;the Offering Consent shall be of no force or effect.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;7. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Ratification and Confirmation</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Transaction Agreements, as hereby amended, supplemented or otherwise modified, are hereby
ratified and confirmed in all respects. This Supplement shall be interpreted and construed
together with, and as a part of, each of the Transaction Agreements, as applicable. Any reference
in any other document to any of the Transaction Agreements shall be deemed to refer to the
applicable Transaction Agreement, as modified by this Supplement. The execution, delivery and
effectiveness of this Supplement shall not constitute a modification or waiver of any provision of
the Transaction Agreements except as expressly provided herein.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;8. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Governing Law</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Supplement shall be governed by, and construed in accordance with, the laws of the State
of New York. All actions and proceedings arising out of or relating to this Supplement shall be
heard and determined exclusively in any New York state or federal court, in each case sitting in
the Borough of Manhattan. The parties hereto hereby (a)&nbsp;submit to the exclusive jurisdiction of
any New York state or federal court, in each case sitting in the Borough of Manhattan, for the
purpose of any Action arising out of or relating to this Supplement brought by any party hereto,
and (b)&nbsp;irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any
such Action, any claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution, that the Action is
brought in an inconvenient forum, that the venue of the Action is improper, or that this Supplement
may not be enforced in or by any of the above-named courts.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>Section&nbsp;9. </B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Counterparts</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Supplement may be executed and delivered (including by facsimile transmission) in one or
more counterparts, and by the different parties hereto in separate counterparts, each of which when
executed and delivered shall be deemed to be an original but all of which taken together shall
constitute one and the same agreement.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>&#091;Signature Page Follows&#093;</I>
</DIV>



<P align="right" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Investors and the Company have caused this Supplement to be
executed as of the date first written above by their respective officers thereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>INVESTORS:</B><BR>

<BR>
INVUS, L.P.,<BR>
a Bermuda limited partnership<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 0px solid #000000" align="left">Invus Advisors, L.L.C., its general partner
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                        /s/ Raymond Debbane
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Raymond Debbane&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">INVUS C.V.,<BR>
a Netherlands limited partnership<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 0px solid #000000" align="left">Ulys, L.L.C., its general partner
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                        /s/ Raymond Debbane
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Raymond Debbane&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>COMPANY:</B><BR>
<BR>
LEXICON PHARMACEUTICALS, INC.,<BR>
a Delaware corporation<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Arthur T. Sands
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Arthur T. Sands, M.D., Ph.D.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>&#091;Signature Page to Supplement to Transaction Agreements&#093;</I>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><U><B>Exhibit&nbsp;A</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>NOTICE OF</B></U><BR>
<U><B>CONSENT TO OFFERING</B></U>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">March &#95;&#95;&#95;, 2010
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Invus, L.P.<BR>
c/o The Invus Group, LLC<BR>
750 Lexington Avenue (30<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Floor)<BR>
New York, New York 10022

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lexicon Pharmaceuticals, Inc.<BR>
8800 Technology Forest Place<BR>
The Woodlands, Texas 77381<BR>
Attn: President and Chief Executive Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to that certain Securities Purchase Agreement, dated as of June&nbsp;17, 2007 (as
amended, supplemented or otherwise modified, the &#147;<U>Securities Purchase Agreement</U>&#148;), by and
between Invus, L.P. and Lexicon Pharmaceuticals, Inc. (the &#147;<U>Company</U>&#148;), and to that certain
Supplement to Transaction Agreements, dated as of March&nbsp;15, 2010, by and among Invus, L.P., Invus
C.V. and the Company. Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed to them in the Securities Purchase Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Section&nbsp;6.02(a) of the Securities Purchase Agreement, Invus, L.P. hereby consents
to an underwritten offering by the Company of Company Common Stock on the following terms:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U>Issuer</U>: Lexicon Pharmaceuticals, Inc.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U>Offering</U>: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> shares of Company Common Stock (the &#147;<U>Firm Shares</U>&#148;) and up to
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> additional shares to cover over-allotments by the underwriters in such offering as
provided in the underwriting agreement to be executed in connection with such offering (the
&#147;<U>Underwriting Agreement</U>&#148;)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U>Size</U>: $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> at a $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> per share purchase price to the public.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U>Timing</U>: Pricing to occur on or before March&nbsp;15, 2010 with closing within T&#043;3
(subject to extension as provided in the Underwriting Agreement).
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sincerely,<BR>
<BR>
INVUS, L.P.,<BR>
a Bermuda limited partnership<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 0px solid #000000" align="left">Invus Advisors, L.L.C., its general partner
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">

&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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