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Exhibit 10.2  


 
 

COGENT COMMUNICATIONS GROUP, INC.
  
    FOURTH AMENDED AND RESTATED
  REGISTRATION RIGHTS AGREEMENT
  
    March 30, 2004    



        To
each of the several holders of Series F Preferred Stock (the "Series F Purchasers"), each sub-series of Series G
Preferred Stock (collectively, the "Series G Purchasers"), Series I Preferred Stock (the "Series I Purchasers") and
Series J Preferred Stock (the "Series J Purchasers," collectively, the Series F, G, I and J Purchasers shall be known as the
"Purchasers"): 


Dear
Sirs: 


        This
will confirm that as a condition to closing under the Merger Agreement (the "Merger Agreement") dated March 30, 2004, by and among Cogent
Communications Group, Inc. (the "Company"), the Company's subsidiary DE Merger Sub, Inc. ("Merger Sub") and Symposium
Omega, Inc. ("Symposium Omega"), the Company covenants and agrees with each of you as follows: 


        1.     Certain
Definitions. As used in this Agreement, the following terms shall have the following respective meanings: 



        "Commission"
shall mean the Securities and Exchange Commission, or any other federal agency at the time administering the Securities Act. 


        "Common
Stock" shall mean the Common Stock, par value $.001 per share, of the Company, as constituted as of the date of this Agreement. 


        "Company"
shall mean Cogent Communications Group, Inc. 


        "Conversion
Shares" shall mean shares of Common Stock issued or issuable upon conversion of the Preferred Stock, and any shares of capital stock received in
respect thereof. 


        "Exchange
Act" shall mean the Securities Exchange Act of 1934 or any similar federal statute, and the rules and regulations of the Commission thereunder, all
as the same shall be in effect at the time. 


        "Preferred
Stock" shall mean the Series F Preferred Stock, the Series G Preferred Stock, the Series I Preferred Stock and the
Series J Preferred Stock. 


        "Registration
Expenses" shall mean the expenses so described in Section 8. 


        "Restricted
Stock" shall mean (i) the Conversion Shares, excluding Conversion Shares which have been (a) registered under the Securities Act
pursuant to an effective registration statement filed thereunder and disposed of in accordance with the registration statement covering them or (b) publicly sold pursuant to Rule 144
under the Securities Act, and (ii) any shares of Common Stock issued or distributed in respect of the securities described in clause (i). 


        "Securities
Act" shall mean the Securities Act of 1933 or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the
same shall be in effect at the time. 


        "Selling
Expenses" shall mean the expenses so described in Section 8. 


        "Series F
Preferred Stock" shall mean the Series F Participating Convertible Preferred Stock, par value $.001 per share, of the Company,
constituted as of July 31, 2003. 


        "Series G
Preferred Stock" shall mean the Series G Participating Convertible Preferred Stock of the Company, constituted as of July 31,
2003. 


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        "Series I
Preferred Stock" shall mean the Series I Participating Convertible Preferred Stock of the Company, constituted as of
January 5, 2004. 


        "Series J
Preferred Stock" shall mean the Series J Participating Convertible Preferred Stock of the Company, issued pursuant to the Merger
Agreement, constituted as of the date of this Agreement. 


        2.     Restrictive
Legend. Each certificate representing Preferred Stock, Conversion Shares or Restricted Stock shall, except as otherwise provided
in this Section 2 or in Section 3, be stamped or otherwise imprinted with a legend substantially in the following form: 




"The
securities represented by this certificate have not been registered under the Securities Act of 1933 or applicable state securities laws. These securities have been acquired for investment and
not with a view to distribution or resale, and may not be sold mortgaged, pledged, hypothecated or otherwise transferred without an effective registration statement for such securities under the
Securities Act of 1933 and applicable state securities laws, or the availability of an exemption from the registration provisions of the Securities Act of 1933 and applicable state securities laws." 





A
certificate shall not bear such legend if in the opinion of counsel reasonably satisfactory to the Company the securities being sold thereby may be publicly sold without registration under the
Securities Act. 


        3.     Notice
of Proposed Transfer. Prior to any proposed transfer of any Preferred Stock, Conversion Shares or Restricted Stock (other than under
the circumstances described in Sections 4, 5 or 6), the holder thereof shall give written notice to the Company of its intention to effect such transfer. Each such notice shall describe the manner of
the proposed transfer and, if requested by the Company, shall be accompanied by an opinion of counsel reasonably satisfactory to the Company to the effect that the proposed transfer may be effected
without registration under the Securities Act, whereupon the holder of such stock shall be entitled to transfer such stock in accordance with the terms of its notice;
provided, however, that no such opinion of counsel shall be required for a transfer to one or more partners of the transferor (in the case of
a transferor that is a partnership), to one or more members of the transferor (in the case of a transferor that is a limited liability company) or to an affiliated corporation (in the case of a
transferor that is a corporation); provided, further, however, that any transferee other than a partner, member
or affiliate of the transferor shall execute and deliver to the Company a representation letter in form reasonably satisfactory to the Company's counsel to the effect that the transferee is acquiring
Restricted Stock for its own account, for investment purposes and without any view to distribution thereof. Each certificate for Preferred Stock or Conversion Shares transferred as above provided
shall bear the legend set forth in Section 2, except that such certificate shall not bear such legend if (i) such transfer is in accordance with the provisions of Rule 144 (or any
other rule permitting public sale without registration under the Securities Act) or (ii) the opinion of counsel referred to above is to the further effect that the transferee and any subsequent
transferee (other than an affiliate of the Company) would be entitled to transfer such securities in a public sale without registration under the Securities Act. The restrictions provided for in this
Section 3 shall not apply to securities which are not required to bear the legend prescribed by Section 2 in accordance with the provisions of that Section. 


        4.     Required
Registration. 



        (a)
Subject to Section 13(f) of this Agreement, at any time after the earlier of (i) July 31, 2006 and (ii) the date that is six (6) months after the
first public offering after the date hereof of securities by the Company, holders of Restricted Stock constituting more than 50% of the total number of shares of Restricted Stock then outstanding may
request the Company to register under the Securities Act all or any portion of the shares of Restricted Stock held by such requesting holder or holders for sale in the manner specified in such notice.
For purposes of this Section 4 and Sections 5, 6, 13(a) and 13(d), the term "Restricted Stock" shall be deemed to include the 



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number
of shares of Restricted Stock which would be issuable to a holder of Preferred Stock upon conversion of all shares of Preferred Stock held by such holder at such time;
provided, however, that the only securities which the Company shall be required to register pursuant hereto shall be shares of Common Stock;
provided, further, however, that, in any underwritten public offering contemplated by this Section 4 or
Sections 5 and 6, the holders of Preferred Stock shall be entitled to sell such Preferred Stock to the underwriters for conversion and sale of the shares of Common Stock issued upon conversion thereof
and holders of a majority of the Preferred Stock being so registered shall have the right to approve the managing underwriter(s) selected by the Company in connection with such underwritten public
offering. Notwithstanding anything to the contrary contained herein, the Company shall not be obligated to effect a registration (i) during the 180 day period commencing with the
effective date of a registration statement filed by the Company covering the first firm commitment underwritten public offering after the date hereof or (ii) if the Company delivers notice to
the holders of the Restricted Stock within thirty (30) days of any registration request of the Company's intent to file a registration statement for an underwritten public offering
within ninety (90) days. 


        (b)
Following receipt of any notice under this Section 4, the Company shall immediately notify all holders of Restricted Stock and Preferred Stock from whom notice has not been
received and such holders shall then be entitled within 30 days thereafter to request the Company to include in the requested registration all or any portion of their shares of Restricted
Stock. The Company shall use its best efforts to register under the Securities Act, for public sale in accordance with the method of disposition described in paragraph (a) above, the number of
shares of Restricted Stock specified in such notice (and in all notices received by the Company from other holders within 30 days after the giving of such notice by the Company). The Company
shall be obligated to register Restricted Stock pursuant to this Section 4 on three occasions only; provided, however, that such
obligation shall be deemed satisfied only when a registration statement covering all shares of Restricted Stock specified in notices received as aforesaid for sale in accordance with the method of
disposition specified by the requesting holders shall have become effective and, if such method of disposition is a firm commitment underwritten public offering, all such shares shall have been sold
pursuant thereto. 


        (c)
The Company (or at the option of the Company, the holders of Common Stock) shall be entitled to include in any registration statement referred to in this Section 4, for sale
in accordance with the method of disposition specified by the requesting holders, shares of Common Stock to be sold by the Company or such other holders for its own account, except as and to the
extent that, in the opinion of the managing underwriter (if such method of disposition shall be an underwritten public offering), such inclusion would adversely affect the marketing of the Restricted
Stock to be sold. Subject to Section 4(a) and except for registration statements on Form S-4, S-8 or any successor thereto, the Company will not file with the
Commission any other registration statement with respect to its Common Stock, whether for its own account or that of other stockholders, from the date
of receipt of a notice from requesting holders pursuant to this Section 4 until the completion of the period of distribution of the registration contemplated thereby. 


        (d)
If, in the opinion of the managing underwriter, the inclusion of all of the Restricted Stock requested to be registered under this Section would adversely affect the marketing of
such shares, the Company shall only include the number of shares that, in the reasonable opinion of such underwriter, can be sold without having an adverse effect on the marketing of such shares, to
be allocated to each stockholder of the Company on a pro rata basis based on the total number of shares held by such holder and requested to be included
in the registration; provided, however, that the number of shares of Restricted Stock to be included in such underwriting and registration
shall not be reduced unless all other securities of the Company are first excluded from the underwriting and registration. 



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        5.     Incidental
Registration. Subject to Section 13(f) of this Agreement, if the Company at any time (other than pursuant to
Section 4 or Section 6) proposes to register any of its securities under the Securities Act for sale to the public, whether for its own account or for the account of other security
holders or both (except with respect to registration statements on Forms S-4, S-8 or another form not available for registering the Restricted Stock for sale to the public),
each such time it will give written notice to all holders of outstanding Restricted Stock of its intention so to do. Upon the written request of any such holder, received by the Company within
30 days after the giving of any such notice by the Company, to register any of its Restricted Stock, the Company will use its best efforts to cause the Restricted Stock as to which registration
shall have been so requested to be included in the securities to be covered by the registration statement proposed to be filed by the Company, all to the extent requisite to permit the sale or other
disposition by the holder (in accordance with its written request) of such Restricted Stock so registered. In the event that any registration pursuant to this Section 5 shall be, in whole or in
part, an underwritten public offering of Common Stock, if the managing underwriter determines in good faith that marketing factors require a limitation of the number of shares to be underwritten, the
number of shares that may be included in the underwriting shall be allocated, first, to the Company; second, to the holders of Restricted Stock invoking the rights under this Section 5 on a  pro rata basis based on the total number of shares of Restricted Stock held by such holders; and third, to any stockholder of the Company (other than
such holders) on a pro rata basis. No such reduction shall reduce the amount of securities of the selling holders included in the registration below
thirty percent (30%) of the total amount of securities included in such registration. In no event will shares of any other selling stockholder be included in such registration that would reduce the
number of shares which may be included by holders of Restricted Stock without the written consent of the holders of not less than sixty-six and two-thirds percent
(662/3%) of the Restricted Stock proposed to be sold in the offering. If any such holder disapproves of the terms of any such underwriting, such holder may elect to withdraw therefrom
by written notice to the Company and the underwriter, delivered at least ten (10) business days prior to the effective date of the registration statement. Any shares of Restricted Stock
excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For any holder which is a partnership or corporation, the partners, retired partners and
stockholders of such holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing person shall be deemed to be a single
holder, and any pro rata reduction with respect to such holder shall be based upon the aggregate amount of shares carrying registration rights owned by
all entities and individuals included in such holder, as defined in this sentence. Notwithstanding the foregoing provisions, the Company may withdraw any registration statement referred to in this
Section 5 without thereby incurring any liability to the holders of Restricted Stock. 


        6.     Registration
on Form S-3. Subject to Section 13(f) of this Agreement, if at any time (i) a holder or holders
of Restricted Stock then outstanding request that the Company file a registration statement on Form S-3 or any successor thereto for a public offering of all or any portion
of the shares of Restricted Stock held by such requesting holder or holders, and (ii) the Company is a registrant entitled to use Form S-3 or any successor thereto to
register such shares, then the Company shall use its best efforts to register under the Securities Act on Form S-3 or any successor thereto for public sale in accordance with the
method of disposition specified in such notice, the number of shares of Restricted Stock specified in such notice. Whenever the Company is required by this Section 6 to use its best efforts to
effect the registration of Restricted Stock, each of the procedures and requirements of Section 4 (including but not limited to the requirement that the Company notify all holders of Restricted
Stock from whom notice has not been received and provide them with the opportunity to participate in the offering) shall apply to such registration; provided,
however, that there shall be no limitation on the number of registrations on Form S-3 which may be requested and obtained under this Section 6
and registrations effected pursuant to this Section 6 shall not be counted as demands for registration or registrations effected pursuant to Sections 4 or 5, respectively. 


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        (b)
Notwithstanding anything to the contrary set forth in this Agreement, the Company's obligation under this Agreement to register Restricted Stock under the Securities Act on
registration statements ("Registration Statements") may, upon the reasonable determination of the Board of Directors made not more than twice in the aggregate (and not
more than once with respect to a Registration Statement on Form S-1 and not more than once with respect to a Registration Statement on Form S-3 and including any
delay pursuant to the last sentence of Section 4(a)) during any 12-month period, be suspended in the event and during such period as unforeseen circumstances (including without
limitation (i) an underwritten primary offering by the Company (which includes no secondary offering) if the Company is advised in writing by its underwriters that the registration of the
Restricted Stock would have a material adverse effect on the Company's offering, or (ii) pending negotiations relating to, or consummation of, a transaction or the occurrence of an event which
would require additional disclosure of material information by the Company in Registration Statements or such other filings, as to which the Company has a bona fide business purpose for preserving
confidentiality or which renders the Company unable to comply with the Commission's requirements) exist (such unforeseen circumstances being hereinafter referred to as a "Suspension
Event") which would make it impractical or unadvisable for the Company to file the Registration Statements or such other filings or to cause such to become effective. Such suspension
shall continue only for so long as such event is continuing but in no event for a period longer than (i) one hundred and twenty (120) days, in the case of a Registration Statement on
Form S-1 (or any successor thereto) or (ii) ninety (90) days, in the case of a Registration Statement on Form S-3 (or any successor thereto). The
Company shall notify the Purchasers of the existence and nature of any Suspension Event. 


        7.     Registration
Procedures. If and whenever the Company is required by the provisions of Sections 4, 5 or 6 to use its best efforts to effect
the registration of any shares of Restricted Stock under the Securities Act, the Company will, as expeditiously as possible: 



        (a)
prepare and file with the Commission a registration statement (which, in the case of an underwritten public offering pursuant to Section 4, shall be on
Form S-1 or other form of general applicability satisfactory to the managing underwriter selected as therein provided) with respect to such securities and use its best efforts to
cause such registration statement to become and remain effective for the period of the distribution contemplated thereby (determined as hereinafter provided); 


        (b)
prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such
registration statement effective for the period specified in paragraph (a) above and comply with the provisions of the Securities Act with respect to the disposition of all Restricted Stock
covered by such registration statement in accordance with the sellers' intended method of disposition set forth in such registration statement for such period; 


        (c)
furnish to each seller of Restricted Stock and to each underwriter such number of copies of the registration statement and each such amendment and supplement thereto (in each case
including all exhibits) and the prospectus included therein (including each preliminary prospectus) as such persons reasonably may request in order to facilitate the public sale or other disposition
of the Restricted Stock covered by such registration statement; 


        (d)
use its best efforts to register or qualify the Restricted Stock covered by such registration statement under the securities or "blue sky" laws of such jurisdictions as the sellers
of Restricted Stock or, in the case of an underwritten public offering, the managing underwriter reasonably shall request; provided, however,
that the Company shall not for any such purpose be required to qualify generally to transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general
service of process in any such jurisdiction; 



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        (e)
use its best efforts to list the Restricted Stock covered by such registration statement with any securities exchange on which the Common Stock of the Company is then listed; 


        (f)
immediately notify each seller of Restricted Stock and each underwriter under such registration statement, at any time when a prospectus relating thereto is required to be delivered
under the Securities Act, of the happening of any event of which the Company has knowledge as a result of which the prospectus contained in such registration statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then
existing, and promptly prepare and furnish to such seller a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to the purchasers of such Restricted
Stock, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 


        (g)
if the offering is underwritten and at the request of any seller of Restricted Stock, use its best efforts to furnish on the date that Restricted Stock is delivered to the
underwriters for sale pursuant to such registration: (i) an opinion dated such date of counsel representing the Company for the purposes of such registration, addressed to the underwriters and
to such seller, to such effect as reasonably may be requested by counsel for the underwriters, and (ii) a letter dated such date from the independent public accountants retained by the Company,
addressed to the underwriters and to such seller, stating that they are independent public accountants within the meaning of the Securities Act and that, in the opinion of such accountants, the
financial statements of the Company included in the registration statement or the prospectus, or any amendment or supplement thereof, comply as to form in all material respects with the applicable
accounting requirements of the Securities Act, and such letter shall additionally cover such other financial matters (including information as to the period ending no more than five business days
prior to the date of such letter) with respect to such registration as such underwriters reasonably may request; 


        (h)
make available for inspection by each seller of Restricted Stock, any underwriter participating in any distribution pursuant to such registration statement, and any attorney,
accountant or other agent retained by such seller or underwriter, reasonable access to all financial and other records, pertinent corporate documents and properties of the Company, as such parties may
reasonably request, and cause the Company's officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in
connection with such registration statement; 


        (i)
cooperate with the selling holders of Restricted Stock and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates representing
Restricted Stock to be sold, such certificates to be in such denominations and registered in such names as such holders or the managing underwriters may request at least two business days prior to any
sale of Restricted Stock; and 


        (j)
permit any holder of Restricted Stock which holder, in the sole and exclusive judgment, exercised in good faith, of such holder, might be deemed to be a controlling person of the
Company, to participate in good faith in the preparation of such registration or comparable statement and to require the insertion therein of material, furnished to the Company in writing, which in
the reasonable judgment of such holder and its counsel should be included and to permit any other holder of Restricted Stock participating in the registration to review such registration or comparable
statement during its preparation. 




        For
purposes of Section 7(a) and 7(b) and of Section 4(c), the period of distribution of Restricted Stock in a firm commitment underwritten public offering shall be deemed
to extend until each 


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underwriter
has completed the distribution of all securities purchased by it, and the period of distribution of Restricted Stock in any other registration shall be deemed to extend until the earlier
of the sale of all Restricted Stock covered thereby and 180 days after the effective date thereof. 


        In
connection with each registration hereunder, the sellers of Restricted Stock will furnish to the Company in writing such information requested by the Company with respect to
themselves and the proposed distribution by them as reasonably shall be necessary in order to assure compliance with federal and applicable state securities laws and to make the registration statement
correct, accurate and complete in all respects with respect to such sellers; provided, however, that this requirement shall not be deemed to limit any disclosure
obligation arising out of any seller's relationship to the Company if one of such seller's agents or affiliates is an officer, director or control person of the Company. In addition, the sellers
shall, if requested by the Company, execute such other agreements, which are reasonably satisfactory to them and which shall contain such provisions as may be customary and reasonable in order to
accomplish the registration of the Restricted Stock. 


        In
connection with each registration pursuant to Sections 4, 5 or 6 covering an underwritten public offering, the Company and each seller agree to enter into a written agreement with the
managing underwriter selected in the manner herein provided in such form and containing such provisions as are customary in the securities business for such an arrangement between such underwriter and
companies of the Company's size and investment stature. 


        8.     Expenses.
All expenses incurred by the Company in complying with Sections 4, 5 and 6, including, without limitation, all registration and
filing fees, printing expenses, fees and disbursements of counsel and independent public accountants for the Company, fees and expenses (including counsel fees) incurred in connection with complying
with state securities or "blue sky" laws, fees and expenses of one counsel for the selling holders of Restricted Stock in connection with the registration of Restricted Stock, fees of the National
Association of Securities Dealers, Inc., transfer taxes, fees of transfer agents and registrars, costs of any insurance which might be obtained, but excluding any Selling Expenses, are called
"Registration Expenses." All underwriting discounts and selling commissions applicable to the sale of Restricted Stock and the fees and expenses of more than one counsel
for the selling holders of Restricted Stock in connection with the registration of Restricted Stock are called "Selling Expenses." 


        The
Company will pay all Registration Expenses incurred in connection with each of the first five Registration Statements filed pursuant to Sections 4, 5 or 6. All Selling Expenses
incurred in connection with each of the first five Registration Statements filed pursuant to Sections 4, 5 or 6, and all Selling Expenses and Registration Expenses incurred in connection with each
Registration Statement filed pursuant to Sections 4, 5 or 6 thereafter, shall be borne by the participating sellers in proportion to the number of shares sold by each, or by such participating sellers
other than the Company (except to the extent the Company shall be a seller) as they may agree. 


        9.     Indemnification.




        (a)
To the extent permitted by law, in the event of a registration of any of the Restricted Stock under the Securities Act pursuant to Sections 4, 5 or 6, the Company will indemnify and
hold harmless each holder of Restricted Stock, its partners, members, officers and directors, each underwriter of such Restricted Stock thereunder and each other person, if any, who controls such
seller or underwriter within the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which such holder, officer, director, underwriter or
controlling person may become subject under the Securities Act, Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are
based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Restricted Stock was registered under the
Securities Act pursuant to Sections 4, 5 or 6, any preliminary prospectus (but only to the extent not corrected in 



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the
final prospectus) or final prospectus contained therein, or any amendment or supplement thereof, (ii) any blue sky application or other document executed by the Company specifically for
that purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to qualify any or all of the Restricted Stock under the securities laws
thereof (any such application, document or information herein called a "Blue Sky Application"), (iii) the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading, (iv) any violation by the Company or its agents of any rule or regulation promulgated under the
Securities Act or Exchange Act applicable to the Company or its agents and relating to action or inaction required of the Company in connection with such registration, or (v) any failure to
register or qualify the Restricted Stock in any state where the Company or its agents has affirmatively undertaken or agreed in writing that the Company (the undertaking of any underwriter chosen by
the Company being attributed to the Company) will undertake such registration or qualification on the seller's behalf (provided that in such instance the Company shall not be so liable if it has
undertaken its best efforts to so register or qualify the Restricted Stock) and will reimburse each such holder, and such partner, member, officer and director, each such underwriter and each such
controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are
incurred; provided, however, that the Company will not be liable in any such case if and to the extent that any such loss, claim, damage or
liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by any such seller, any such
underwriter or any such controlling person in writing specifically for use in such registration statement, prospectus or Blue Sky Application. 


        (b)
To the extent permitted by law, in the event of a registration of any of the Restricted Stock under the Securities Act pursuant to Sections 4, 5 or 6, each seller of such Restricted
Stock thereunder, severally and not jointly, will indemnify and hold harmless the Company, each person, if any, who controls the Company within the meaning of the Securities Act, each officer of the
Company who signs the registration statement, each director of the Company, each other holder of Restricted Stock, each underwriter and each person who controls any underwriter within the meaning of
the Securities Act, against all losses, claims, damages or liabilities, joint or several, to which the Company or such officer, director, other seller, underwriter or controlling person may become
subject under the Securities Act, Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement
or alleged untrue statement of any material fact contained in the registration statement under which such Restricted Stock was registered under the Securities Act pursuant to Sections 4, 5 or 6, any
preliminary prospectus (but only to the extent not corrected in the final prospectus) or final prospectus contained therein, or any amendment or supplement thereof, or any Blue Sky Application or
arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will
reimburse the Company and each such officer, director, other seller, underwriter and controlling person for any legal or other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however, that such seller will be liable hereunder in any such case if
and only to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in reliance
upon and in conformity with information pertaining to such seller, as such, furnished in writing to the Company by such seller specifically for use in such registration statement, prospectus or Blue
Sky Application; and provided, further, however, that the liability of each seller hereunder shall be limited to
the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the shares sold by such seller under such registration 



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statement
bears to the total public offering price of all securities sold thereunder, but not in any event to exceed the net proceeds received by such seller from the sale of Restricted Stock covered
by such registration statement. 


        (c)
Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made
against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability which it may
have to such indemnified party other than under this Section 9 and shall only relieve it from any liability which it may have to such indemnified party under this Section 9 if and to the
extent the indemnifying party is prejudiced by such omission. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the commencement
thereof, the indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such indemnified party,
and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified
party under this Section 9 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of
liaison with counsel so selected; provided, however, that, if the defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded that the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying
party, the indemnified
party shall have the right to select a separate counsel and to assume such legal defenses and otherwise to participate in the defense of such action, with the expenses and fees of such separate
counsel and other expenses related to such participation to be reimbursed by the indemnifying party as incurred. No indemnifying party, in the defense of any such claim or litigation shall, except
with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation, and no indemnified party shall consent to entry of any judgment or settle such claim or
litigation without the prior written consent of the indemnifying party, which consent shall not be unreasonably withheld. 



        (d)
If the indemnification provided for in this Section 9 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any losses,
claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to the
amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on
the one hand and of the indemnified party on the other in connection with the violation that resulted in such loss, claim, damage or liability, as well as any other relevant equitable considerations.
The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission; provided, however, that in no event shall
any contribution by a holder of Restricted Stock hereunder, when combined with amounts paid or payable pursuant to Section 9(b), exceed the net proceeds from the offering received by such
holder. 


        (e)
The obligations of the Company and holders of Restricted Stock under this Section 9 shall survive completion of any offering of Restricted Stock by a registration statement
and the termination of this Agreement. 



9





 





        10.   Changes
in Common Stock, Series F Preferred Stock, Series G Preferred Stock, Series I Preferred Stock or Series J Preferred
Stock. If, and as often as, there is any change in the Common Stock, Series F Preferred Stock, Series G Preferred Stock, Series I Preferred Stock or Series J
Preferred Stock by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate
adjustment shall be made in the provisions hereof so that the rights and privileges granted hereby shall continue with respect to the Common Stock, Series F Preferred Stock, Series G
Preferred Stock, Series I Preferred Stock or Series J Preferred Stock as so changed. 



        11.   Rule 144
Reporting. With a view to making available the benefits of certain rules and regulations of the Commission which may at any
time permit the sale of the Restricted Stock to the public without registration, at all times after any registration statement covering a public offering of securities of the Company under the
Securities Act shall have become effective, the Company agrees to: 



        (a)
make and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act; 



        (b)
use its best efforts to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and 


        (c)
furnish to each holder of Restricted Stock forthwith upon request a written statement by the Company as to its compliance with the reporting requirements of such Rule 144 and
of the Securities Act and the Exchange Act, a copy of the most recent annual or quarterly report of the Company, and such other reports and documents so filed by the Company as such holder may
reasonably request in availing itself of any rule or regulation of the Commission allowing such holder to sell any Restricted Stock without registration. 




        12.   Representations
and Warranties of the Company. The Company represents and warrants to you as follows: 



        (a)
The execution, delivery and performance of this Agreement by the Company have been duly authorized by all requisite corporate action and will not violate any provision of law, any
order of any court or other agency of government, the articles of organization or By-laws of the Company or any provision of any indenture, agreement or other instrument to which it or any
or its properties or assets is bound, conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any such indenture, agreement or other instrument or
result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the properties or assets of the Company. 


        (b)
This Agreement has been duly executed and delivered by the Company and constitutes the legal, valid and binding obligation of the Company, enforceable in accordance with its terms. 




        13.   Miscellaneous.




        (a)
All covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors and assigns of
the parties hereto (including without limitation transferees of any Preferred Stock or Restricted Stock), whether so expressed or not; provided,
however, that registration rights conferred herein on the holders of Preferred Stock or Restricted Stock shall only inure to the benefit of a transferee of Preferred Stock
or Restricted Stock if (i) there is transferred to such transferee at least twenty five percent (25%) of the shares of Restricted Stock (appropriately adjusted for any subdivision or
combination) originally issued to a Purchaser, (ii) such transferee is a member, former member, partner, retired partner, family member or trust for the benefit of any individual holder,
stockholder or affiliate of a party hereto or (iii) such transferee acquires at least 2,500,000 shares 



10





 

(appropriately
adjusted for any subdivision or combination) of Preferred Stock; provided, further, however, that
the Company is given written notice thereof. 


        (b)
All notices, requests, consents and other communications hereunder shall be in writing and shall be mailed by certified or registered mail, return receipt requested, postage prepaid,
or by recognized overnight delivery service of international reputation or, in the case of non-U.S. residents, telexed or sent by recognized overnight delivery service of international
reputation or, addressed as follows: 


        If
to the Company, to: 





Cogent
Communications Group, Inc.

1015 31st Street, N.W.

Washington, DC 20007,

Attention: Robert Beury 






        with
copies to: 





Latham &
Watkins, LLP

555 Eleventh St., N.W., Suite 1000

Washington, D.C. 20004

Attention: David McPherson 






        If
to any other party hereto, to their respective addresses set forth on Schedule I hereto; 



        If
to any subsequent holder of Preferred Stock or Restricted Stock, to it at such address as may have been furnished to the Company in writing by such holder; 


or,
in any case, at such other address or addresses as shall have been furnished in writing to the Company (in the case of a holder of Preferred Stock or Restricted Stock) or to the holders of
Preferred Stock or Restricted Stock (in the case of the Company) in accordance with the provisions of this paragraph. 


        (c)
This Agreement shall be construed and enforced in accordance with and governed by the laws of the State of New York, without reference to its conflict of laws provisions. 



        (d)
This Agreement may not be amended or modified, and no provision hereof may be waived, without the written consent of the Company and the holders of at least two-thirds of
the outstanding shares of Restricted Stock. Notwithstanding the foregoing, no such amendment or modification shall be effective if and to the extent that such amendment or modification either
(a) creates any additional affirmative obligations to be complied with by any or all of the Purchasers or (b) grants to any one or more Purchasers any rights more favorable than any
rights granted to all other Purchasers or otherwise treats any one or more Purchasers differently than all other Purchasers. 



        (e)
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 


        (f)
If requested in writing by the underwriters for the first underwritten public offering of securities of the Company after the date hereof, each holder of Restricted Stock who is a
party to this Agreement shall agree not to sell publicly any shares of Restricted Stock or any other shares of Common Stock (other than shares of Restricted Stock or other shares of Common Stock being
registered in such offering or any shares purchased in the open market after the Company's public offering), without the consent of such underwriters, for a period of not more than 180 days
following the consummation of such public offering; provided, however, that all holders of at least one percent (1%) of the then outstanding
Common Stock and all officers and directors of the 



11





 




Company
shall also have agreed not to sell publicly their Common Stock under the circumstances and pursuant to the terms set forth in this Section 13(f). 


        (g)
If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall attach only to such provision and
shall not in any manner affect or render illegal, invalid or unenforceable any other provision of this Agreement, and this
Agreement shall be carried out as if any such illegal, invalid or unenforceable provision were not contained herein. 


        (h)
Upon and after the Closing (as defined in the Merger Agreement), this Agreement shall amend and restate in its entirety the Third Amended and Restated Registration Rights Agreement,
dated July 31, 2003, by and among the Company and the other parties thereto (the "Prior Registration Rights Agreement"), the parties hereto constitute the Company
and the holders of at least two-thirds of the outstanding shares of Restricted Stock (as defined in the Prior Registration Rights Agreement) immediately prior to the execution of this
Agreement. 


        (i)
After the date of this Agreement, the Company shall not, without the prior written consent of the holders of at least two-thirds of the Restricted Stock then outstanding,
enter into any agreement with any holder or prospective holder of any securities of the Company that would grant such holder registration rights pari
passu or senior to those granted to the holders hereunder, other than a registration related to stock issued upon conversion of debt securities assumed by the Company in
connection with its acquisition of Allied Riser Communications Corporation. 



        (j)
All registration rights granted under Sections 4, 5, and 6 shall terminate and be of no further force and effect upon the earlier of (i) three (3) years after the date
the Company first effects a registration pursuant to Section 4 or (ii) five (5) years from the date hereof. In addition, the registration rights of a holder of Restricted Stock
shall expire if all Restricted Stock held by and issuable to such holder (and its affiliates) may be sold under Rule 144 during any ninety (90) day period. 



 
 

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12









        Please indicate your acceptance of the foregoing by signing and returning the enclosed counterpart of this letter, whereupon this Agreement shall be a binding agreement between the
Company and you. 



	 	 	Very truly yours,
	

 	
 	

COGENT COMMUNICATIONS GROUP, INC.
	

 	
 	

By:	
 	

/s/  DAVID SCHAEFFER      

	

 	
 	

By: David Schaeffer
	 	 	Its: President and Chief Executive Officer







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]    
    



	BNP EUROPE TELECOM & MEDIA FUND II, LP	 	 
	

By:	
 	

/s/  SHAWNA MOREHOUSE AND JENNIFER FISCHETTI      
	
 	

 
	Name: Shawna Morehouse and Jennifer Fischetti	 	 
	Title: Authorized Signatories	 	 
	

By:	
 	

General Business, Finance and Investment Ltd., its General Partner
	By:	 	Commerce Advisory Services Ltd, as Director and Partnership Secretary
	

NATIO VIE DEVELOPPEMENT 3, FCPR	
 	

 
	

By:	
 	

/s/  JEAN-JACQUES BERTRAND      
	
 	

 
	Name: Jean-Jacques Bertrand	 	 
	Title: Authorized Signatory	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]    
    



	OAK INVESTMENT PARTNERS IX, LIMITED PARTNERSHIP	 	 
	

By:	
 	

Oak Associates IX, LLC, its General Partner	
 	

 
	

By:	
 	

/s/  EDWARD GLASSMEYER      
	
 	

 
	Name: Edward Glassmeyer	 	 
	Title: Managing Member	 	 
	

OAK IX AFFILIATES FUND, LIMITED PARTNERSHIP	
 	

 
	

By:	
 	

Oak IX Affiliates, LLC, its General Partner	
 	

 
	

By:	
 	

/s/  EDWARD GLASSMEYER      
	
 	

 
	Name: Edward Glassmeyer	 	 
	Title: Managing Member	 	 
	

OAK IX AFFILIATES FUND-A, LIMITED PARTNERSHIP	
 	

 
	

By:	
 	

Oak Associates IX, LLC, its General Partner	
 	

 
	

By:	
 	

/s/  EDWARD GLASSMEYER      
	
 	

 
	Name: Edward Glassmeyer	 	 
	Title: Managing Member	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	JERUSALEM VENTURE PARTNERS III, L.P.	 	 
	

By:	
 	

Jerusalem Partners III, L.P., its General Partner	
 	

 
	By:	 	Jerusalem Venture Partners Corporation, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 
	

JERUSALEM VENTURE PARTNERS III (ISRAEL), L.P.	
 	

 
	

By:	
 	

Jerusalem Venture Partners III (Israel) Management Company Ltd.,

its General Partner	
 	

 
	By:	 	Jerusalem Venture Partners Corporation, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 
	

JERUSALEM VENTURE PARTNERS ENTREPRENEURS FUND III, L.P.	
 	

 
	

By:	
 	

Jerusalem Partners III, L.P., its General Partner	
 	

 
	By:	 	Jerusalem Venture Partners Corporation, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	JERUSALEM VENTURE PARTNERS IV, L.P.	 	 
	

By:	
 	

Jerusalem Partners IV, L.P., its General Partner	
 	

 
	By:	 	JVP Corp IV, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 
	

JERUSALEM VENTURE PARTNERS IV (Israel), L.P.	
 	

 
	

By:	
 	

Jerusalem Partners IV—Venture Capital, L.P., its General Partner	
 	

 
	By:	 	JVP Corp IV, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 
	

JERUSALEM VENTURE PARTNERS IV-A, L.P.	
 	

 
	

By:	
 	

Jerusalem Partners IV, L.P., its General Partner	
 	

 
	By:	 	JVP Corp IV, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 
	

JERUSALEM VENTURE PARTNERS ENTREPRENEURS FUND IV, L.P.	
 	

 
	

By:	
 	

Jerusalem Partners IV, L.P., its General Partner	
 	

 
	By:	 	JVP Corp IV, its General Partner	 	 
	

By:	
 	

/s/  EREL MARGALIT      
	
 	

 
	Name: Erel Margalit	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	WORLDVIEW TECHNOLOGY PARTNERS III, L.P.	 	 
	

WORLDVIEW TECHNOLOGY INTERNATIONAL III, L.P.	
 	

 
	

WORLDVIEW STRATEGIC PARTNERS III, L.P.	
 	

 
	

WORLDVIEW III CARRIER FUND, L.P.	
 	

 
	

By:	
 	

Worldview Capital III, L.P., its General Partner	
 	

 
	By:	 	Worldview Equity I, L.L.C., its General Partner	 	 
	

By:	
 	

/s/  COLIN SAVAGE      
	
 	

 
	Name: Colin Savage	 	 
	

WORLDVIEW TECHNOLOGY PARTNERS IV, L.P.	
 	

 
	

WORLDVIEW TECHNOLOGY INTERNATIONAL IV, L.P.	
 	

 
	

WORLDVIEW STRATEGIC PARTNERS IV, L.P.	
 	

 
	

By:	
 	

Worldview Capital IV, L.P., its General Partner	
 	

 
	By:	 	Worldview Equity I, L.L.C., its General Partner	 	 
	

By:	
 	

/s/  COLIN SAVAGE      
	
 	

 
	Name: Colin Savage	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	

BROADVIEW CAPITAL PARTNERS L.P.	
 	

 
	

By:	
 	

Broadview Capital Partners Management LLC, its General Partner	
 	

 
	

By:	
 	

/s/  STEVEN D. BROOKS      
	
 	

 
	Name: Stephen D. Brooks	 	 
	Title: Managing Director	 	 
	

BROADVIEW CAPITAL PARTNERS QUALIFIED PURCHASER FUND L.P.	
 	

 
	

By:	
 	

Broadview Capital Partners Management LLC, its General Partner	
 	

 
	

By:	
 	

/s/  STEVEN D. BROOKS      
	
 	

 
	Name: Stephen D. Brooks	 	 
	Title: Managing Director	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	

BOULDER VENTURES IV, L.P.	
 	

 
	

By:	
 	

/s/  ANDREW E. JONES      
	
 	

 
	Name: Andrew E. Jones	 	 
	Title: General Partner	 	 
	

BOULDER VENTURES IV (ANNEX), L.P.	
 	

 
	

By:	
 	

/s/  ANDREW E. JONES      
	
 	

 
	Name: Andrew E. Jones	 	 
	Title: General Partner	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	

NAS PARTNERS I L.L.C.	
 	

 
	

By:	
 	

Nassau Capital LLC, its General Partner	
 	

 
	

By:	
 	

/s/  RANDALL A. HACK      
	
 	

 
	Name: Randall A. Hack	 	 
	Title: Sr. Managing Partner	 	 
	

NASSAU CAPITAL PARTNERS IV L.P.	
 	

 
	

By:	
 	

Nassau Capital LLC, its General Partner	
 	

 
	

By:	
 	

/s/  RANDALL A. HACK      
	
 	

 
	Name: Randall A. Hack	 	 
	Title: Sr. Managing Partner	 	 







 
 

[Signature Page to Fourth Amended and Restated Registration Rights Agreement]



	By:	 	/s/  DAVID SCHAEFFER      
	 	 
	David Schaeffer	 	 











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