Exhibit 10.66

 

AMENDMENT NO. 1 TO

FOURTH AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT

 

THIS AMENDMENT NO. 1 (this “Amendment”) to that certain Fourth Amended and
Restated Investors’ Rights Agreement dated as of January 7, 2005 (the “Rights
Agreement”), by and among Occam Networks, Inc., a Delaware corporation (the
“Company”), and the Investors (as defined in the Rights Agreement) is entered
into this 23rd day of March, 2005. Capitalized terms not defined herein have the
meanings set forth in the Rights Agreement.

 

WHEREAS, the Company previously sold and issued an aggregate of 563,291 shares
of Series A-2 Preferred pursuant to the terms of that certain Series A-2
Preferred Stock Purchase Agreement dated as of January 7, 2005 (the “Purchase
Agreement”), by and among the Company and the persons and entities listed on
Exhibit A-1 and Exhibit A-2 (First Subsequent Closing) at the Initial Closing
(as defined in the Purchase Agreement) held on January 7, 2005, and a Subsequent
Closing (as defined in the Purchase Agreement) held on January 14, 2005; and

 

WHEREAS, in connection with the sale on the date hereof of 545,979 shares of
Series A-2 Preferred (as defined in the Purchase Agreement) to certain new and
existing investors of the Company, the Company and the Holders holding a
sufficient number of shares of capital stock of the Company to amend the Rights
Agreement desire to amend the Rights Agreement to (i) allow additional
purchasers of the Company’s Series A-2 Preferred at a Subsequent Closing (as
defined in the Purchase Agreement) to become a party to the Rights Agreement and
(ii) extend the deadline for filing a registration statement in accordance with
Section 2 of the Rights Agreement until April 30, 2005; and

 

WHEREAS, Section 22(e) of the Rights Agreement provides that the provisions of
the Rights Agreement may be amended upon the written consent of the Company and
two-thirds in interest of the Holders.

 

NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Investors agree as follows:

 

1. Amendment to Section 22(e). Section 22(e) of the Rights Agreement is hereby
amended to provide that Investors purchasing shares of Series A-2 Preferred in
any Subsequent Closing pursuant to the Purchase Agreement may become a party to
the Rights Agreement by signature of a counterpart signature page to the Rights
Agreement and without any amendment of the Rights Agreement or any consent or
approval of any other Investor.

 

2. Amendment to Section 2(b). Section 2(b) of the Rights Agreement is hereby
amended to provide that the registration statement the Company is required to
file pursuant to Section 2 of the Rights Agreement shall be filed no later than
April 30, 2005.

 

3. Addition of Aggregation Provision. A new Section 22(i) is hereby inserted
into the Rights Agreement. The new Section 22(i) shall read in its entirety as
follows:

 

“(i) Aggregation. For the purposes of this Agreement, the number of shares of
Registrable Securities held by a Holder shall include the holdings of any
“affiliate” of such Holder (as defined in Rule 12b-2 under the Exchange Act),
and such holdings shall be aggregated together.”

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4. Effect of Execution of Amendment by Certain Investors. This Amendment, when
executed and delivered by the Company and an Investor purchasing shares of
Series A-2 Preferred at a Subsequent Closing held on or after the date hereof,
shall also constitute and shall be deemed a counterpart signature page to the
Rights Agreement. Consequently, the undersigned Investors purchasing shares of
Series A-2 Preferred at a Subsequent Closing held on or after the date hereof
hereby acknowledge and agree that they are bound by the terms and conditions
contained in the Rights Agreement as amended by this Amendment with respect to
the purchase of such shares.

 

5. Governing Law. This Amendment shall be governed by and construed under the
laws of the State of California, without reference to principles of conflicts of
law.

 

6. Counterparts; Facsimile. This Amendment may be executed by facsimile
signature and in any number of counterparts, each of which shall be enforceable
against the parties actually executing such counterparts, and all of which
together shall constitute one instrument.

 

7. Amendment. On and after the execution of this Amendment, each reference in
the Rights Agreement to the Rights Agreement shall mean and be a reference to
the Rights Agreement as modified by this Amendment.

 

[Remainder of Page Intentionally Blank]

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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first above written.

 

“COMPANY”

OCCAM NETWORKS, INC.

a Delaware corporation

By:

 

/s/ Howard Bailey

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Name:

  Howard Bailey

Title:

  Chief Financial Officer

 

[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]

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“INVESTOR” Alta Capital Partners III, L.P. By:   Alta California Management
Partners III, LLC By:  

/s/ Khaled A. Nasr

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    Director Alta Embarcadero Partners III, LLC By:  

/s/ Signature Illegible

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    Manager

 

[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]

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“INVESTOR” U.S. Venture Partners VII, L.P. 2180 Associates Fund VII, L.P. USVP
Entrepreneur Partners VII-A, L.P. USVP Entrepreneur Partners VII-B, L.P. By
Presidio Management Group VII, L.L.C. The General Partner of Each By:  

/s/ Michael P. Maher

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Name:   Michael P. Maher Title:   Attorney-In-Fact U.S. Venture Partners V, L.P.
USVP V International, L.P. 2180 Associates Fund V, L.P. USVP V Entrepreneur
Partners, L.P. By Presidio Management Group V, L.L.C. The General Partner of
Each By:  

/s/ Michael P. Maher

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Name:   Michael P. Maher Title:   Attorney-In-Fact

 

[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]

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“INVESTOR” Norwest Venture Partners VIII, L.P. By: Itasca VC Partners VIII, LLP
Its: General Partner By:  

/s/ Promod Haque

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Name:   Promod Haque Title:   Managing Partner NVP Entrepreneurs Fund VIII, L.P.
By: Itasca VC Partners VIII, LLP Its: General Partner By:  

/s/ Promod Haque

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Name:   Promod Haque Title:   Managing Partner

 

[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]

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“INVESTOR” New Enterprise Associates 9, L.P. By: NEA Partners 9, L.P. Its:
General Partner By:  

/s/ C. Richard Kramlich

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Name:  

C. Richard Kramlich

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Title:  

General Partner

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[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]

 

 

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“INVESTOR” Tellabs Equity Holdings Corporation By:  

/s/ Krish A. Prabhu

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Name:  

Krish A. Prabhu

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Title:  

President and Chief Executive Officer

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[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]

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“INVESTOR” Crescent Venture Investors By:  

/s/ Kevin G. Hall

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Name:  

/s/ Kevin G. Hall

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Title:  

General Partner

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[Signature Page to Amendment No. 1 to Fourth Amended and Restated Investors’
Rights Agreement]